Troubled furniture group, Landmark Home Furnishings, went into receivership on Friday, leading to the loss of 23 stores across Scotland and England.
BDO Stoy Hayward Business Recovery Services has been appointed joint receiver and is now seeking a buyer of the business, which could see the re-opening of some of the stores. A number of parties have already expressed an interest.
Colliers Conrad Ritblat Erdman is advising the receiver. Edward Farrar at Colliers CRE said: “We were only appointed on Friday and have been busy getting schedules assembled and sending those out. We expect to get a lot of interest in the stores.”
The receiver has said that most of Landmarks premises were closed prior to its appointment, but it hopes some may reopen if an early sale is secured.
The Scottish side of the business, which has 13 stores, has its headquarters in Dunfermline, while the English operation is based in Eastleigh, Hampshire, and has 10 stores.
The Landmark companies have a joint turnover of £35m but recently suffered major trading losses and mounting debts. Discussions were underway to sell both businesses but the receiver moved in after these talks broke down.
EGi News 18/12/00
