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Bed and furniture retailer Warren Evans has gone into administration putting its 14 stores and one factory at risk.
The retailer was looking for a buyer in January and independent advisors Duff and Phelps were appointed to handle the sale with the aim of completing the sale by the end of March.
Warren Evans failed to find a buyer, so its administration is now being handled by Duff and Phelps.
Allan Graham, administrator, said: “Despite strong like-for-like sales in the pre-Christmas period, the picture moving into 2018 has been dramatically different and this has impacted the search and scope for new investment.
“Warren Evans is rightly recognised as one of the UK’s leading bed, mattress and furniture retailers, but trading conditions are exceptionally challenging with the business hit by rising manufacturing costs and the continued squeeze on consumer wallets and confidence.”
