Furniture retail and manufacturer The Original Sofa Company Limited has been placed into administration, after experiencing a fall in sales in recent months.
Howard Smith and Jonny Marston from KPMG’s Restructuring practice were appointed joint administrators to The Original Sofa Company Limited on 24 October 2016.
In the absence of a buyer after an accelerated marketing process, the joint administrators made five redundancies following appointment and will wind-down the business, selling stock and other assets in order to provide a distribution to creditors.
Howard Smith, associate partner at KPMG and joint administrator, said: “The company had suffered a difficult trading period and despite an accelerated marketing process, a buyer was unable to be found. Our focus will now be on realising the assets of the business and supporting the employees through this challenging period.”
The company specialised in the manufacture and retail of luxury furniture, and operated from its manufacturing base and showroom in Team Valley, Gateshead. It also traded through its flagship store in Central London.