Habitat stores enter administration

| June 24, 2011 | 0 Comments

Furniture chain Habitat is to be put into administration but three of its stores are to be bought by Home Retail Group (owner of Argos and Homebase).

Home Retail Group is acquiring the rights to the Habitat brand in the UK and the Republic of Ireland.

Administrators have been appointed for 30 of the outlets, which will trade for the next six months until a buyer can be found.

It has promised to fulfil all existing orders and safeguard customer deposits.

The retailer has suffered as consumers rein in their spending and opt out of buying big-ticket items such as furniture.

The chain was established in the early 1960s and said recent times have been challenging.

In a statement, the company said: “A return to profitability for the business in the UK appears unlikely in the near term as many of the stores are expensive and poorly located for a furniture retailer.”

Tags: , , , , , stores

Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Leave a Reply

Visited 2280 times, 2 so far today