Lombok forced to shut nine stores
Monday 15 August 2011
Furniture chain Lombok followed the UK arm of Habitat into administration today in a move resulting in the closure of nine stores.
Management and investors at Angora, the private owner of Lombok, have immediately bought the retailer out of pre-pack administration in a move which will see three stores and one concession remain open.
Stores in Guildford, Hampstead, Brighton, Leamington Spa, Kingston, Wimbledon, Bluewater, Chiswick, Kings Road, London, all closed before administrators Leonard Curtis were appointed.
Lombok's stores in Tottenham Court Road, London, Batley, West Yorkshire, a clearance store in Fulham and its Oxford Street House of Fraser concession all remain open as well as its website.
A spokeswoman for Lombok said a consultation on job losses was under way but could not confirm the number of redundancies expected to be made.
The chain is the latest victim of the consumer downturn, brought on by a toxic combination of high inflation, low wage growth and fears over Government austerity measures.
Lombok, named after the Indonesian island, was founded by Alex Cresswell-Turner, who wanted to develop a range of Eastern- inspired furniture in the UK. The stores sell bedroom, dining room, lounge and office furniture.
Lombok also went through a pre-pack administration in 2009, when current majority owner Privet Capital bought the group.
A Lombok spokeswoman said: "Lombok remains under the control of its directors and continues to trade, with customer orders and deposits placed at all stores unaffected.
"In order to secure the future of Lombok in very challenging trading conditions, Lombok is in the final stages of an essential restructuring which is refocusing the company on its successful online offering and key flagship stores."
The spokeswoman added: "Certain assets are being sold immediately to its management team and existing investors."
The UK side of retail brand Habitat went into administration in June, putting 720 jobs at risk.
A handful of stores were bought by Homebase and Argos owner Home Retail Group.
The retail sector has had a terrible run in 2011, with clothing retailer Jane Norman, Moben kitchens owner HomeForm, department store TJ Hughes and wine merchant Oddbins all entering administration.
Elsewhere, entertainment group HMV, sportswear firm JJB Sports and chocolatier Thorntons have all announced store closures.
- 1 Ashya King missing: Police hunt five-year-old boy with brain tumour snatched from Southampton hospital by his parents
- 2 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 4 Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
- 5 Friends reunion: Jennifer Aniston, Lisa Kudrow and Courteney Cox perform mini sketch on Jimmy Kimmel Live
Ashya King missing: Police hunt five-year-old boy with brain tumour snatched from Southampton hospital by his parents
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
Californian drought is so severe it's 'causing the ground to move'
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
- < Previous
- Next >
iJobs Money & Business
£32000 - £38000 Per Annum Bonus, Life Insurance + Other Benefits: Clearwater P...
£200 - £250 per day + competitive: Orgtel: KYC Analyst, Key Banking Client, Bi...
£400 - £500 per day: Orgtel: Test Manager - Banking - West Yorkshire - £400-£5...
£450 - £500 per day: Orgtel: SAS Developer, Chester, Banking, DI Studio, £450-...