Jobs at risk at Shrewsbury store as Multiyork enters administration
A national furniture chain which has a store in Shrewsbury is looking for a buyer after calling in administrators.
Multiyork employs nearly 550 people and runs 50 stores across the country including one on Castle Street.
Yesterday, Allan Graham and Matt Ingram, of Duff and Phelps, were appointed joint administrators for the firm.
Multiyork is continuing to trade as normal for the next few weeks as it looked to complete orders ahead of Christmas.
The administrators said they were hopeful of finding a buyer for the business.
Multiyork's joint administrator, Allan Graham, said:"Trading conditions for UK retailers continue to be difficult due to a number of factors including economic uncertainty, rising commodity prices, increasing business rates and the fall in value of the pound which has increased the cost of importing raw materials and products.
"This appears to be leading to a sharp fall in consumer confidence and less money being spent on discretionary items."
The company’s current management team is continuing in their role and assisting the administrators.
