A specialist retailer of furniture, lighting, tiles, and DIY products has been rescued from administration, safeguarding over 200 jobs.
The company faced financial difficulties due to the decline of the UK DIY and construction sector, alongside rising online competition. It entered administration on 14 February 2025.
Leeds-based Stiled Holdings Ltd, which operated 38 stores, has been acquired following a sale process managed by joint administrators Jonathan Amor and Richard Oddy from Azets. The sale has resulted in the preservation of 202 out of 226 jobs and 29 of its 38 stores.
Joint administrator Richard Oddy stated that the business had struggled due to market conditions but a buyer was secured after a "thorough marketing process". He added that the sale was completed shortly after administration, ensuring continuity for the majority of employees and store locations.
The identity of the purchaser and financial details of the deal have not been disclosed.
Source: www.bigfurnituregroup.com