A Grantham furniture manufacturer employing over 250 people has been placed into administration.
Chris Pole and Mark Orton from KPMG Restructuring have been appointed as joint administrators to The Quality Furniture Company Limited.
The business operates from a freehold premises on Alma Park Road in Grantham and employs around 271 people, but there have been no redundancies yet according to KPMG.
The administrators will trade the business in the short term and are looking for interested buyers to express their interest as soon as possible.
The Quality Furniture Company Limited posted on its Factory Shop’s Facebook page that it would not be open this Saturday, August 4, due to unfortunate circumstances.
Partner at KPMG and joint administrator, Chris Pole, said: “Like many operating in the retail sector at the moment, the Quality Furniture Company has been facing challenging market conditions for some time.
“This, along with cost pressures, a weakened pound and a decline in consumer spending, has impacted trading and has led the directors to take the difficult decision to place the company into administration.
“We will be looking to trade the business in the short term and would advise any interested parties to contact the joint administrators as soon as possible to express their interest.”