Oak Furnitureland plans 27 store closures
Oak Furnitureland has said it plans to close 27 of its 105 UK stores in a move that will put 163 jobs at risk.
The decision has come a month after the business was rescued from collapse through a pre-pack administration deal. At the time, the company’s new owner, Davidson Kempner Capital Management, pledged to carry out a review of the business following the acquisition.
The retailer has now said trading has stabilised since stores reopened after the Covid 19 lockdown in June, but that the retail environment remains challenging.
Oak Furnitureland chief executive Alex Fisher said: “The current proposals to close some showrooms forms part of a company wide review that we are undertakings as a business.
“We are committed to driving forward a plan for our future growth, and although this has been a difficult decision, it is the right one for the business in these uniquely challenging times.
“We are confident that the decision will ensure we remain a competitive and dynamic choice for our customers.”
