A Grantham furniture manufacturer will cease trading on Friday following an announcement by the joint administrators of the company.
As previously reported, Chris Pole and Mark Orton from KPMG Restructuring were appointed as joint administrators of The Quality Furniture Company Limited back in August.
The business operates from a freehold premises on Alma Park Road in Grantham and at the time of being placed in administration they employed around 271 staff.
KPMG recently announced that the furniture company will cease trading on October 12 2018 with the majority of the 161 workforce to be made redundant.
All affected staff have been informed.
110 people have left of their own accord in the meantime.
Partner at KPMG and joint administrator Chris Pole said: “We have continued to trade the business since our appointment on August 2 2018 to enable time for a sale of business process to take place.
“Unfortunately, despite a number of expressions of interest in the business, no acceptable offer was received following the marketing process and as a result, trading will cease on October 12 2018.
“Whilst we will be retaining a small skeleton workforce in the short term to assist us with the wind down process, the majority of the 161 workforce will regrettably be made redundant.
“All affected staff have been informed and will be paid up to and including their last day of employment. We’d like to thank all employees for the support, service and co-operation they have provided to the company, both before and during the administration.”
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