Swindon-based Oak Furnitureland, which has a showroom at Mannington Retail Park and also its distribution centre in South Marston, has been rescued from collapse in a pre-pack administration deal.
The furniture retailer currently employs 1,491 people, started reopening its retail stores this week, however the new owners of the business, Davidson Kempner Capital Management have advised they will undertake a review of the chains 105 showrooms and has not ruled closures and joblosses.
Founder Jason Bannister, who was Oak Furnitureland’s biggest shareholder, was said to be ‘supportive’ of the sale and will have no involvement in the business’s future.
