Designers Guild Limited, a well-known UK homeware brand, has entered administration after grappling with challenging trading conditions and mounting costs. The company has now stopped trading entirely, with 93 jobs at risk.
The brand, owned by founder Tricia Guild and chief executive Simon Jeffreys, attempted to keep the business afloat, but it has ceased operations. It is understood that all affected employees are expected to face redundancy.
Administrators appointed
Rick Harrison and Howard Smith from Interpath were appointed joint administrators on September 24. The latest blow arrives just 16 months after Tricia Guild licensed the Designers Guild brand back from retailer Dunelm following its acquisition of the business.
Established in 1970, the firm has earned a strong reputation for designing, wholesaling and retailing an extensive range of luxury homeware products, including upholstery, furnishing fabrics and home accessories.
Previous statement and final closure
A spokesperson for Designers Guild previously told Sky News: "We have been working with our advisers for a number of months as we assess and explore a range of potential investment options which will help drive the next phase of our strategy."
"In recent days, we have taken legal steps to protect the position of the business while discussions with potential investors continue. In the meantime, it remains business as usual and we will provide further updates in due course."
In a final statement, Ms Guild and Mr Jeffreys announced the closure with "great" sadness, describing Designers Guild as far more than just a business — but also a "passion".
Winding-down process
While the vast majority of staff will be leaving the company, a small number of employees will stay on to support the administrators as they oversee the winding-down process.
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."
"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."
