Type
Closure
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Retail
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale Of Other Household Equipment In Specialised Stores
47.5 - Retail sale of other household equipment in specialised stores

1,400 jobs
Number of planned job losses
Job loss
Announcement Date
30 November 2004
Employment effect (start)
Foreseen end date

Description

The UK arm of the 154-year-old Courts furniture chain is to be put into the hands of administrators after its banks called in loans.

The banks, which are owed £280m, are expected to appoint accountants KPMG to run the struggling British operation, presumably with a view to trying to sell it off or break it up before resorting to closure of its 89 UK stores and the possible loss of 1,400 jobs.


Sources

  • 30 November 2004: The Guardian

Citation

Eurofound (2004), Courts, Closure in United Kingdom, factsheet number 60778, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60778.