Qualified advisers answering your
Financial Questions
call 0800 092 1245

Land of Leather goes into administration

Leading furniture retailer land of leather has been forced to call in the administrators as the group succumbs to the very difficult trading conditions in the UK. While there have been concerns just recently that some of the better-known furniture retailers in the UK were struggling, the collapse of the Land of Leather has caught many by surprise. However, the 109 store chain has already received a number of expressions of interest and administrators are hopeful that the business can be sold on as a going concern.

The furniture sector has come under particular pressure of late as this is an area of the market which depends upon "free money" and activity in the housing market. With the housing market having slumped to a standstill and free money in very short supply there has been a substantial reduction in business levels and overall profitability. There had been hopes that banking finance in the short term would at least have given these companies a fighting chance as and when the economy recovers but UK banks have not been particularly a tentative to the UK business sector.

Unless we see a substantial increase in the UK property market there could be further rocky times ahead for the UK furniture market.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details