A well-known British homeware company has entered administration. Designers Guild Limited reached this difficult conclusion after struggling with a challenging retail climate and escalating operational costs.
The firm, led by founder Tricia Guild and chief executive Simon Jeffreys, had attempted to maintain operations. However, the company has now ceased trading entirely, leading to the closure of its facilities and putting 93 jobs at risk. It is expected that all impacted employees will be made redundant.
Rick Harrison and Howard Smith of Interpath were appointed as joint administrators on September 24.
This development arrives only 16 months after Tricia Guild repurchased the Designers Guild brand from retailer Dunelm, <a s previous acquisition of the business.
Established in 1970, the firm earned a strong reputation for the design, wholesale, and retail of various luxury home goods, such as home accessories, furnishing fabrics, and upholstery.
A spokesperson for Designers Guild previously told
“In recent days, we have taken legal steps to protect the position of the business while discussions with potential <a
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 group of staff will be retained to help the administrators manage the company’s closure and the winding-down process, while the majority of the <a 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.”
