FRP Advisory partners named joint administrators of Oldham-based Betta Living

Partners of business advisory firm FRP Advisory LLP have been called in as joint administrators of Dean House Limited, the struggling retailer trading as Betta Living.

FRP’s Anthony Collier and Ben Woolrych are now looking for a solution that will keep the business trading.

The Betta Living brand, which sells bedroom and kitchen furniture, is headquartered in Oldham and employs 300 people across 24 stores nationally.

At present, all of the company’s stores have closed.

The joint administrators confirmed they are reviewing the firm’s financial position “in the interest of creditors” while marketing the business and assets for sale.

Mr Collier said he is currently working with all stakeholders to find a solution that rescues the business.

He commented: “[We] would ask any parties interested in any aspect of the business to make contact as soon as possible.

“Betta Living is a business with a strong brand and is well known up and down the country.”

The firm’s turnover grew from around £16m, with profits of about £1m, to more recent annual revenues of around £50m.

However, rising occupational costs from newer space pushed the business into a loss-making position, squeezing its cashflow to unsustainable levels.

The joint administrators said Betta Living has now ceased trading and orders are not currently being despatched.

Mr Collier added: “We will be reviewing the order book and writing to individual customers this week.”

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