Habitat enter administration - sale to follow?

Aidy

Not quite Focus, but all the same habitat have gone into administration today. HRG (Argos / Homebase) have bought 3 London stores and the name, the rest of the stores are in administration but still trading.

Will be interesting to see how this pans out in the next few weeks. In the meantime perhaps don't grabbit as you may get stuff cheaper soon?

http://www.bbc.co.uk/news/business-13901123

As with Focus, sorry to all staff, hope either someone buys the stores or you find something else quick.

m0nkeymrs01

Wait for it ....

thatguy1

Just thought I'd add to this post, Homeform is to go in to administration too
They own Moben Kitchens, Kitchens Direct, Sharps Bedrooms, Sharps home office, Dolphin bathrooms, Dolphin easy living & tecnik appliances

http://www.guardian.co.uk/business/2011/jun/23/kitchens-homeform-administration-jobs-risk

Aidy

Its not good is it - survival of the fitest I guess.

antrobus

Aidy wrote: »

Not quite Focus, but all the same habitat have gone into administration today. HRG (Argos / Homebase) have bought 3 London stores and the name, the rest of the stores are in administration but still trading.

Will be interesting to see how this pans out in the next few weeks. In the meantime perhaps don't grabbit as you may get stuff cheaper soon?

http://www.bbc.co.uk/news/business-13901123

As with Focus, sorry to all staff, hope either someone buys the stores or you find something else quick.

A bit odd really considering that Habitat is owned by Ikea, and the last time I looked they weren't short of a bob or two. Could it be that the Swedes are using administration to avoid paying out a heap of money?

Aidy

antrobus wrote: »

A bit odd really considering that Habitat is owned by Ikea, and the last time I looked they weren't short of a bob or two. Could it be that the Swedes are using administration to avoid paying out a heap of money?

Not owned by Ikea family anymore, they off-loaded it with a £45m 'dowry' (they gave them Habitat as a going concern and £45m!!) to a venture capital company last year I think

pelirocco

antrobus wrote: »

A bit odd really considering that Habitat is owned by Ikea, and the last time I looked they weren't short of a bob or two. Could it be that the Swedes are using administration to avoid paying out a heap of money?

Apparently Ikea sold it in 2009?

1984ReturnsForReal_2

Why is this on Grabbit?

NKLK

1984ReturnsForReal wrote: »

Why is this on Grabbit?

Because they are making you away there could be a great opportunity to get some bargains?:beer:

trumpton

Shame as they sell nice, but very expensive stuff. We have had a few bargains from them over the years though. It always seems that when a venture capitalist company buys a going concern, a year or 2 later it goes into administation.

m0nkeymrs01

1984ReturnsForReal wrote: »

Why is this on Grabbit?

And there it is...