Dwell ceases trading
Furniture retailer Dwell has ceased trading after attempts to sell the business failed. The collapse of the business has put up to 300 jobs at risk.
The company has told staff to stay at home whilst it prepares to appoint administrators. All 23 stores and one concession have been closed and the Dwell website has been taken offline.
It is understood that Duff & Phelps have been lined up as administrators.
Last month, Dwell hired Argyll Partners to find a buyer for the business but attempts were unsuccessful.
Never Miss a Retail Update!A spokesperson for the company said: “The business had been working with its advisers to secure further working capital for the business and was actively in the process of talking to a number of interested parties who saw the value of the Dwell brand and product, its customer base and its multi-channel proposition.
“However, despite this interest it did not progress. As a result we have been left with no option but to close the business with immediate effect.”
Customers have been told that no further deliveries will be made and those with outstanding orders have been advised to contact their card issuer.
