Uncertain future for furnishing store staff in Workington

Last updated 12:56, Saturday, 04 October 2008

STAFF at a Workington furnishings store face an uncertain future after its owner was placed into administration.

Rosebys, the curtains and soft furnishing retailer, has been placed into administration after hitting financial difficulties.

The company will continue to trade from its 280 stores, including one on the Derwent Howe industrial estate, Workington, until a buyer is found.

Rosebys has 280 stores and generates sales of around £100 million a year.

It employs 2,000 people, and its head office is in Rotherham, South Yorkshire.

Joint administrator Howard Smith, of accountants KPMG, said: “The business is continuing to trade as normal while we review the financial position and seek a going concern sale.

“No employees have been made redundant to date.

“In common with many retailers, the group has experienced difficult trading conditions, leading to continuing losses. Rosebys recently sought to re-finance, but this did not prove possible in the current economic climate.”

Rosebys was acquired by India-based textiles firm GHCL in July 2006.

In the year to March 31, Rosebys made losses of £6m and has remained in the red since.

It owes trade creditors about £30m.