Manor Furniture store in Swindon shuts down
AN award-winning furniture shop which had been trading for almost two decades has gone into administration.
Signs at Manor Furniture in Cheney Manor yesterday said it was in the hands of an accountancy firm.
The company started 18 years ago when nine colleagues were made redundant and set up their own venture.
The firm built up a reputation as the leading independent furniture retailer in Swindon and was voted best furniture trader in the Adver’s Best of Swindon Awards 2011.
In 2009 the firm weathered the credit crunch by upgrading its store and sold £100,000 of goods on the first day of one sale alone.
The company expanded in April, moving from Bizpace’s BSS House trading centre to premises across the road.
Steve Botting, the sales manager for Bizspace, said: “It is disappointing to see any new business go into administration. Especially one so well established as Manor Furniture.
“They were here for 18 years and always pulling in a constant flow of custom and made a great name for themselves.
“Now to see them with the administration notices on the unit opposite is a real shame.”
The company had expanded from BSS House, which offers favourable rates and conditions to new firms.
Mr Botting said: “They made the move in April this year to go over there and go off their own back.
“For whatever reason it just didn’t work out for them. I hate to use the phrase but another one bites the dust in the current climate and conditions. It’s such a shame considering how they big they were in the town.”
Manor Furniture made customer care the cornerstone of its success.
Accepting their award last year, the owners told the Adver that the longevity of their success meant they must be doing something right.
Signs on the building yesterday said the administration was being handled by Victor Henry Ellaby and Philip John Gorman of accountants Hazlewood LLP.who had taken over on Tuesday.Add to Manor furniture Manor Furniture began trading in 1998 and has 10 employees.
Hazlewoods released a statement saying: “Like many other ‘big ticket’ retailers, Manor Furniture has been hit hard by the difficult economic conditions and the knock-on effect on consumer spending.
“With suppliers reluctant to provide extended credit terms and no other sources of finance available to the company there was increasing cash-flow pressure which led to the company being unable to fulfil customer orders and meet the payment demands from creditors.
“As a consequence of these factors, the directors had no choice but to seek the appointment of administrators to the company.”
Vic Ellaby, the joint administrator and director at Hazlewoods, said; “Our role now is to assess the financial position and to seek a buyer for the business and assets of the company.”