Designers Guild Limited, a UK homeware brand founded in 1970, has plunged into administration after facing a tough trading environment and overall rising costs. The business has now ceased trading completely, with 93 jobs at risk.
Administrators appointed
Rick Harrison and Howard Smith from Interpath have been appointed joint administrators on September 24. The brand, owned by founder Tricia Guild and chief executive Simon Jeffreys, had tried to continue operating but ultimately closed its operations. All affected staff are expected to be made redundant.
Recent licensing setback
The latest setback comes just 16 months after Tricia Guild licensed the Designers Guild brand back from retailer Dunelm following its acquisition of the business. Founded in 1970, the company has built a reputation for designing, wholesaling and selling a wide range of luxury home products, including upholstery, furnishing fabrics and home accessories.
Final statement and next steps
In a final statement, Ms Guild and Mr Jeffreys announced the closure with “great” sadness, describing Designers Guild as more than a business, but also a “passion”. A small number of employees will remain in place to assist the administrators as they oversee the closure of the company and manage the winding-down process, while the majority of the workforce will leave the business.
Rick Harrison, managing director at Interpath and joint administrator, said: "For over 50 years, Designers Guild Limited has been one of the UK’s most recognised and respected names in the world of interior design, so it’s tremendously sad that the business has not been able to overcome its recent challenges." He added: "As a matter of priority, we will be supporting those members of staff who have been impacted by insolvency, while we also explore options for the Company’s remaining assets, including leftover stock."
