Company filed net debt of £1.9m with profits of just £479,000 in 2016, in a further sign of slowdown of household goods marketMultiyork Furniture has called in administrators, putting more than 500 jobs at risk. Multiyork had reportedly been put on the market by its major shareholder, the furnishings tycoon Charles Wade of Wade Furniture Group, which also owns beds maker Feather & Black. The two brands are run as separate entities and the administration does not include the bed maker. Administrators said that Multiyork has fallen into financial difficulties as it could not meet its financial liabilities as a result of trading losses. Allan Graham of Duff & Phelps, who was appointed joint administrator on Tuesday, said the business would continue to run for a short period as administrators continue to look for a buyer.

Source: The Guardian November 22, 2017 18:53 UTC