300 jobs at risk as Betta Living collapses into administration
Kitchen and bedroom furniture chain Betta Living has collapsed into administration in a move putting around 300 jobs at risk, it has been confirmed.
Dean House Limited, which trades as Betta Living, appointed FRP Advisory as administrators after struggling with the costs of rapid expansion in recent years.
FRP said Betta Living - headquartered in Oldham, Greater Manchester - closed all of its 24 stores nationwide and sent staff home on Friday as it prepared to appoint administrators.
FRP is now looking at options to sell the group for ongoing trading.
Anthony Collier, joint administrator and partner at FRP Advisory, said: "We are currently working with all stakeholders to see if we can find a solution that rescues the business and would ask any parties interested in any aspect of the business to make contact as soon as possible.
"Betta Living is a business with a strong brand and is well-known up and down the country.
"At present the business has however ceased to trade and orders are not currently being despatched. We will be reviewing the order book and writing to individual customers this week."
FRP said Betta Living had expanded its store chain in the past few years, with revenues of around £16 million rising to around £50 million more recently.
But FRP said "rising occupational costs from newer space" had pushed the company into a loss and left it with no option but to call in administrators.