Furniture retailer New Heights has collapsed into administration this week.
New Heights, owned by New Haven, has around 13 shops and Baker Tilly was instructed this week.
New Heights is the latest furniture retailer to fall victim to the tough economic climate.
It is also thought a sister retailer to New Heights, Sofa Workshop has been rescued by its management this week.
Homewares and curtains retailer Fabric Warehouse went into administration last week. Leonard Curtis, a retail recovery specialist, has been appointed and has already sold more than 10 of the Rotherham based retailer’s 31 stores.
The furniture and homewares sector has been struggling and Sleep Depot went into administration earlier this year and retailers such as Land of Leather and ScS have issued profit warnings recently.
The news comes as retail sales values hit a three year low.
The British Retail Consortium revealed this week that UK retail sales values fell 1.5% on a like-for-like basis, compared with April 2007.
The year-on-year declines in March and April were the worst since spring 2005 according to the BRC.
Clothing and footwear fell further to their lowest levels for at least eight years while furniture and larger homewares also remained down on a year ago, despite continued discounting and promotions.
It said: ‘Consumer confidence has dropped sharply to new lows. With increasing demands on household budgets, shoppers are very price-conscious and reluctant to spend on big-ticket items. Even heavy discounting often failed to tempt customers to buy.’
Capital Retail had previously advised New Heights on store expansion.
