Land of Leather in administration

Another retail chain hits financial problems.

“THE future of 850 staff at furniture retailer Land of Leather was in doubt today after the ailing firm called in administrators.

The Kent-based firm, which has one store in Nottingham, was forced to appoint Deloitte after efforts to secure additional funding and sell the business failed.

Land of Leather opened its first store in 1997 with the aim of bringing affordable leather sofas to the mass market. It was in talks over a possible takeover late last year, but rejected interest from a number of parties in December.

Land of Leather has 109 stores in the UK and the Republic of Ireland, including one at Castle Meadow Retail Park in Nottingham.

Last week rival Sofa Workshop, which has a store in Exchange Arcade, Nottingham city centre, said it had started steps to appoint administrators.”

Follow the link below to read the original story.

http://www.thisisnottingham.co.uk/homenews/Shares-suspended-Land-Leather/article-606606-detail/article.html

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