A national furniture chain went into administration last night after a period of economic uncertainty and “bad management”.
A buyer is needed for Multiyork and Duff & Phelps administrators have been appointed to oversee trade.
A store assistant at the Sheffield store on Barker’s Pool said: “Someone must have overspent or bad management has caused this. It was trying to look better than it was doing as the market has slowed down in recent months.”
She added: “We were expecting new stock on Tuesday and were surprised when it did not arrive. We did not expect this and I think some of the stores should have been closed before it reached this stage.”
There are 50 stores across the country. There are 20 people employed at three stores in Yorkshire and four jobs are at risk in Sheffield.
I am trying to get my £2500 deposit back from an Order I placed Sat, seeming somewhat difficult so anyone looking to buy beware @multiyork
— CPS (@CPalmersmith) November 23, 2017
Joint administrator Allan Graham said: “Trading conditions continue to be difficult due to economic uncertainty, and the fall in value of the pound. This has lead to a sharp fall in consumer confidence and less money being spent.”
The company is focussing on orders made before yesterday but customers will be contacted if their purchase is not able to be processed.
Their shops are still trading but cannot deliver any new products, so a buyer would have to move their furniture themselves.
No refunds are being issued by the store and customers should leave it a few days before trying to find out about their product.
Staff were not made aware the company, which was founded in 1978 and employs 547 people, was under threat and have not been told about any redundancies.