Administrators of Oldham-based furniture retailer Betta Living has confirmed that it has sold the order book and other assets of Dean House Limited, as well as making 300 staff redundant.
Anthony Collier and Ben Woolrych, partners of FRP Advisory LLP, the business advisory firm, were appointed joint administrators of Dean House Limited, trading as Betta Living, on 8 November 2016.
In an updated statement, the administrators said that the assets and order book were sold to a team of former Betta Living management and will fulfil orders on a case-by-case basis.
Betta Living, which provided fitted and home furniture, ceased trading and closed all of its 24 outlets upon the appointment of the administrators.
Administrators revealed that rising occupational costs from newer space pushed the business into a loss making position, squeezing cash-flow to an unsustainable level.
A statement said: “We are pleased that a solution has been found with a view to fulfilling existing customer orders, which may also lead to the creation of jobs in the future.
“However, we are disappointed that a buyer for the business as a whole could not be found, which will unfortunately result in store closures and redundancies.
“We will be working closely with those impacted by store closures over the coming days. Our immediate priority will be to work with any former employees and ensure that they are able to make timely claims from the Redundancy Protection Service.”