The business, which supplies major retailers across the UK, employs approximately 271 people and operates from freehold premises in Grantham. There have been no redundancies, and the business continues to trade in the short term.
Chris Pole, partner at KPMG and joint administrator, comments: “Like many operating in the retail sector at the moment, the Quality Furniture Company has been facing challenging market conditions for some time. This, along with cost pressures, a weakened pound and a decline in consumer spending, has impacted trading and has led the directors to take the difficult decision to place the company into administration.
“We will be looking to trade the business in the short term and would advise any interested parties to contact the joint administrators as soon as possible to express their interest.”