HOMEWARE retailer Oak Furnitureland has revealed plans to close 27 outlets, placing 163 jobs in danger.
The furnishings chain is the most recent enterprise to announce retailer closures and job cuts within the wake of the coronavirus disaster, following within the footsteps of Boots, John Lewis and Pret a Manger.
Oak Furnitureland has introduced plans to close 27 shopsCredit score: Alamy
It comes only a month after Oak Furnitureland was rescued from collapse in a pre-pack administration deal.
Oak Furnitureland was purchased by hedge fund Davidson Kempner Capital Administration for an undisclosed determine.
On the time, it was confirmed a assessment of its retailer construction would happen.
Oak Furnitureland confirmed the primary part of this as we speak, and stated the Covid-19 pandemic sparked “uniquely difficult” enterprise circumstances for its shops.
Which Oak Furnitureland shops may shut?
OAK Furnitureland has introduced plans to close 27 shops.
The retailer is now in a session course of with landlords, the place remaining particulars will likely be confirmed.
- Bathtub (clearance)
- Brent Cross
- Chippenham (clearance)
- Cardiff (clearance)
- Cumbernauld (clearance)
- Leeds Crown Level
- Merry Hill
- New Malden
- Southend on Sea
- Sutton in Ashfield
- Weston Tremendous Mare
Oak Furnitureland has began session processes with landlords of the affected shops, in addition to the 163 staff susceptible to redundancy.
You may see the record of shops which are earmarked for closure, pending talks with landlords, within the field above.
The record is made up of 4 clearance shops and 23 showrooms.
Oak Furnitureland has 105 showrooms throughout the UK and it employs 1,491 individuals.
All buyer orders and deliveries will likely be fulfilled as regular, the retailer has confirmed.
Companies in turmoil in 2019 and 2020
OAK Furnitureland is the most recent in a protracted record of companies to be dealing with hassle. In 2019 and up to now in 2020 we have seen:
- Go Outdoors enter into administration placing 2,400 jobs in danger
- Jamie Oliver’s “Jamie’s Italian“chain go bust, alongside his Fifteen and Barbecoa eating places
- Links of London go into administration placing 350 jobs in danger
- Marks and Spencer shut 35 extra shops because it pushes ahead with plans to axe 145 outlets throughout the UK
- Dozens of Monsoon and Accessorize shops shut
- Struggling shoe store Office has stated it “may shut outlets” as a part of restructuring plans
- Fears Pizza Express may very well be subsequent to enter administration because it “brings in emergency advisers”
- Hairdressing chain Supercutswent into administration in October 2019 – placing 1,200 jobs and 220 salons in danger
- Maternity and child retailer Mothercare collapsed into administration in November 2019 after 58 years on the excessive avenue, placing 2,500 jobs in danger
- Division retailer chain Bealeswent into administration in January 2020 with 23 outlets and 1,052 jobs in danger
- Excessive finish vogue model Ted Baker stated it plans to axe 160 jobs in February 2020
- Cell phone retailer Carphone Warehousestated in March 2020 that it will shut all 531 standalone shops in April
- Classic furnishing and vogue agency Cath Kidston stated it was closing all 60 excessive avenue shops in March 2020
- Vogue retailer Animal stated in April 2020 it was closing all 21 of its UK shops
- Division retailer chain Debenhams fell into administration for the second time in April 2020
- P&O Ferries stated in Could 2020 that it was taking a look at making 1,100 staff redundant
- TUI warned in Could 2020 that 8,000 jobs may very well be reduce as a result of ongoing coronavirus disaster
- British Airways stated in Could 2020 that it nonetheless plans on urgent forward with 12,000 job cuts
- Oasis and Warehouse went into administration in Could 2020, with 1,800 workers positioned on furlough
- Shoe chain Aldo collapsed into administration in June 2020 with 5 shops completely closed
- Victoria’s Secret plunged into administration in June 2020, placing 800 jobs in danger
- Vogue chain Quiz put its store enterprise into administration in June 2020, placing 82 shops in danger
- Pret a Manger is chopping 30 outlets, placing 1,000 jobs in danger
- John Lewis is closing eight shops, with 1,300 jobs on the road
- Boots will shut 48 optician shops, placing greater than 4,000 jobs in danger
Clients may also log into their on-line account on the Oak Furnitureland web site, or contact the retailer immediately, if they’ve any questions on their buy.
Oak Furnitureland chief govt Alex Fisher stated: “The present proposal to shut some showrooms varieties a part of a company-wide assessment that we’re endeavor as a enterprise.
“We’re dedicated to driving ahead a plan for our future development, and though this has been a tough resolution, it’s the proper one for the enterprise in these uniquely difficult occasions.”
Oak Furnitureland is not the one retailer to undergo following the coronavirus outbreak.
Boots introduced on July 9 that it was shutting 48 optician shops, placing 4,000 jobs in danger.
On the identical day, John Lewis stated it was closing eight shops, with 1,300 jobs on the road.
As well as, Pret a Manger is chopping 30 outlets, placing 1,000 jobs in danger.