Maples furniture empire collapses after 150-year history
Wednesday 03 September 1997
Maples has 24 stores, including nine larger out-of-town outlets, specialising in high quality living room and dining room furniture. However, it has been a poor financial performer and the difficulties continued after a management buy-in from the Asda supermarket group in 1993. Maples owes pounds 8m to its main bankers, Bank of Scotland and CinVen, the venture capital group which backed the takeover. It had sales of around pounds 50m last year and is thought to have recorded a significant loss.
Photograph: Hulton Getty
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