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Administrators take over Witney furniture firm
6:30am Friday 27th June 2014 in News
ALMOST 40 workers at a Witney furniture maker have been made redundant by administrators.
Doubts remain over the future of more than 70 remaining staff at Corndell Furniture in Windrush Park Road as a buyer is sought.
In a statement, administrators at FRP Advisory said the business had been facing “financial pressure for a prolonged period.”
A total of 38 staff were made redundant, with 74 currently retained at the company, which has been trading for almost 40 years.
Joint administrator Geoff Rowley said: “Corndell has faced financial difficulty for a number of years and recent cash flow issues have finally prompted the need to seek the protection of administration.
“However, the business has a strong order book and it is our intention to continue to trade and meet customer orders whilst we explore options for the sale of the business.
“During the administration process, we continue to trade the business. Regrettably it has been necessary to make some redundancies in order to make ongoing trading viable.
“We have ensured staff made redundant have been provided with the necessary support to make timely claims from the Redundancy Payments Service.”
Corndell is one of the UK’s largest independent furniture designers and manufacturers with more than 700 outlets in the UK and Ireland.
Customers include major high street retailers, as well as more than 120 independent furniture retailers located throughout the UK.
Mr Rowley added: “We are focused on working with the company’s customers and suppliers as well as engaging with interested parties.
“We would invite interested parties to make early contact.”
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