Oak Furnitureland looks to lose more than a quarter of stores
The new owner of Oak Furnitureland is looking to close more than a quarter of the chain’s stores.
When investment firm Davidson Kempner Capital Management bought the retailer in a pre-pack administration in June it said it would undertake a review of the business.
The review has seen it decide to close 27 of its 105 stores. The stores employ 163 staff.
‘The current proposal to close some showrooms forms part of a company-wide review that we are undertaking as a business,’ says Alex Fisher, Oak Furnitureland chief executive.
‘We are committed to driving forward a plan for our future growth, and although this has been a difficult decision, it is the right one for the business in these uniquely challenging times.
‘We are confident that the decision will ensure we remain a competitive and dynamic choice for our customers. I would like to say thank you to all of my colleagues in every department who have been endlessly committed and patient during this process.
‘Those employees affected have been informed and will be fully supported by our HR teams.’