Furniture land in administration

Furnitureland, the UK-based furniture retailer, was put into administration. The company collapsed with debts of approximately �30m. The administrator said the firm will continue trading until October 5 to try to find a buyer. However, despite a certain level of interest, the administrator said there is a chance the group might find no buyers. Hilco, the corporate recovery specialist, said it had had a look at Furnitureland, but said the owners, SB Capital, had not had much luck with the business.