Seven-store Irish retailer goes into administration: two stores shut immediately

9th February | retail | Irish retailer Classic Furniture is in administration. The seven-store firm has appointed Kieran Wallace from the corporate recovery arm of KPMG as administrator and has already closed two of its stores, in Sligo and Navan.

Its five other stores, four of which are in Dublin and one in Kilkenny, will remain open pending a decision on whether to try and sell the business as a going concern. The 23-year-old firm employs 75 staff, although eight people, based at the Sligo and Navan stores, have been made redundant.

The firm said pressure from landlords tipped it over the edge.

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