Habitat to be placed in administration
Habitat to be placed in administrationBritish furniture retailer Habitat is expected to announce that all 33 of its UK stores are to be disposed of after the retailers owners, Hilco, refused to shoulder further losses from the struggling chain.
The break up will see three London based stores purchased by Homebase owners, Home Retail Group (HRG), whilst the remainder are placed in administration.
HRG will also acquire the Habitat brand as part of a deal valued between £20-£30m.
Established by Sir Terence Conran in 1964 the stores were pioneers in bringing contemporary interior and furniture designs to the masses.
Habitat’s international operations, which are performing strongly, will be unaffected by the move.
New to The Drum
You will be sent a verification email. Click on the link in the email to post your comment.
Existing Users Sign In
More like this
- Oddbins, La Senza, Habitat, Media Square: Round up of companies that entered administration in 2011
- Habitat brand will endure following administration says Live & Breathe boss
- Three Sixty placed in administration as Elmwood action continues
- Sangs and Calanike director speaks out as Allied Irish Bank (AIB) places companies into administration
- DriveBusiness placed into administration
11/05/2012
Pitch news: Hertz, HTC, Smirnoff, LV=
Comments
comments
what next? in one week Habitat and BAE both part of our histroy - depressing
Retail is taking a real pummeling - when the dust has settled expect to see some big gaps on High Streets. Part of this is the credit crunch. But before that retail was feeling the heat from etail in any case. Suspect we will have to find a new use for all those empty stores.
Write Your Comment