Dwell on brink of administration

Dwell, the furniture and home accessories retailer, is on the brink of administration according to the Financial Times.

The newspaper has reported that the 24-strong chain of stores has lined up Duff and Phelps as administrators and that an announcement regarding the future of the company could be made this week. The move could put up to 200 jobs at risk. 

Last month, Dwell hired Argyll Partners to find a buyer for the business but it is understood that any attempts were unsuccessful.

The company’s most recent accounts show that pre-tax losses widened to £675,320 from £456,349 in the year to 27 January 2012.

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