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Another Furniture Store Chain In Administration

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Fewer people moving house, therefore less furniture being sold.

More retail space available soon.

http://www.bbc.co.uk/news/business-14526885

Furniture chain Lombok goes into administration

Lombok's website is still open for business Furniture chain Lombok has gone into administration and closed nine stores.

The three remaining outlets and one department store concession are remaining open, in addition to the company's website business.

These have been bought out of administration by Lombok's owner, Angora, in a "pre-pack" deal.

Under a pre-pack administration agreement, a buyer for a firm or its assets is lined up in advance to the administrations being called in.

No details have yet been released on how many jobs will be lost at Lombok.

The stores being closed are in Guildford, Hampstead, Brighton, Leamington Spa, Kingston, Wimbledon, Bluewater, Chiswick and London's Kings Road.

Those that will remain open are Lombok's shops in Tottenham Court Road in London, Batley in West Yorkshire and a clearance outlet in Fulham.

Lombok's concession that will continue trading is in the London Oxford Street branch of House of Fraser.

A Lombok spokeswoman said a consultation on job losses was now underway.

The retailer is the latest victim of the downturn in consumer spending.

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The three remaining outlets and one department store concession are remaining open, in addition to the company's website business.

These have been bought out of administration by Lombok's owner, Angora, in a "pre-pack" deal.

Nice one!!!

Picking cherries is always fun.

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These have been bought out of administration by Lombok's owner, Angora, in a "pre-pack" deal.

Bet there's a vital bit missing.

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Another importer? Lombok is an Indonesian island as far as i remember.

The mark ups on some of that imported furniture is as high as 1000% here in Aus , buying chairs for $10 wholesale and selling them at around $100 each.I know because i used to work at both a furniture importer and a local furniture manufacturer , the local place was on 100% profit (Double your money) per item.

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Thanks to high relative tax and house prices, we can't afford to make, sell and export stuff anymore.

Thanks to high relative tax and house prices, we can't even afford to import and sell anymore either.

Lower dissposable incomes = low retail and service sector activity sales. One day they might just get it.

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Do we need a Furniture Minister?

Someone like Grant Shapps to come up "innovative" schemes so that people could buy furniture via increasing debt?

Perhaps councils could put down 25% deposits on furniture purchases for people in their area? Maybe parents could guarantee their children's armchair purchases?

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<br />They should have set fire to it and claimed ! like the one in Croydon, allegedly!<br />
<br /><br /><br />

I must admit, that was what went through my mind when it first happened. However, then I saw the owner on the TV very overcome with emotion when they finally demolished it. Haven't they just charged a 30 something year old for that arson today anyway?

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<br /><br /><br />

I must admit, that was what went through my mind when it first happened. However, then I saw the owner on the TV very overcome with emotion when they finally demolished it. Haven't they just charged a 30 something year old for that arson today anyway?

yes i stand corrected, it does look like genuine. I notice no looting or riots reported this weekend! Although i've heard of hand there has been a massive increase in crime accross the country

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Isn't Lombok a high-end yummy mummies' furniture store though? Our neighbours bought some stuff from there which my missus said was lovely and can we get some - I looked at the prices and said no way. It was no MFI. Hence the store locations like Chiswick, Wimbledon and Fulham. If they've gone tits up it's because the middle classes aren't spending money.

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Furniture takes up space...it costs money in shop/warehouse rent to accommodate it plus insurance...good furniture lasts for years, you can pick up some quality furniture for next to nothing on EB, buyer collects, free cycle etc....

Storing furniture in self-storage costs money because what you pay over the months could end up costing more than what the furniture costs to buy .... ;)

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Isn't Lombok a high-end yummy mummies' furniture store though? Our neighbours bought some stuff from there which my missus said was lovely and can we get some - I looked at the prices and said no way. It was no MFI. Hence the store locations like Chiswick, Wimbledon and Fulham. If they've gone tits up it's because the middle classes aren't spending money.

Perhaps the yummy mummies have lost the thrill of the chaise.

I'll get my coat.

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Isn't Lombok a high-end yummy mummies' furniture store though? Our neighbours bought some stuff from there which my missus said was lovely and can we get some - I looked at the prices and said no way. It was no MFI. Hence the store locations like Chiswick, Wimbledon and Fulham. If they've gone tits up it's because the middle classes aren't spending money.

Perhaps Yummy-Mummies and their famed spending power is on the way out?

Is there a thread about it on Mumsnet yet?

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That must be their mistake.

They charged too much for poor people and the wealthy would want to pay more.

:lol: ....they got it all wrong...they should have priced them at £1000 would have had them queuing at the door....misguided logic that the more you pay the better it is. ;)

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Isn't Lombok a high-end yummy mummies' furniture store though? Our neighbours bought some stuff from there which my missus said was lovely and can we get some - I looked at the prices and said no way. It was no MFI. Hence the store locations like Chiswick, Wimbledon and Fulham. If they've gone tits up it's because the middle classes aren't spending money.

May be the next generation of Yummy mummies can't afford to buy their furniture because they are still renting and saving up a deposit.

I suspect there will be more to follow as the younger generation can't afford stuff.

Or may be the equity in the property won't pay for stuff any more. (the younger generation don't have a home let alone equity in one).

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:lol: ....they got it all wrong...they should have priced them at £1000 would have had them queuing at the door....misguided logic that the more you pay the better it is. ;)

I hope you mean their misguided logic not mine.

I once worked at a place where we supplied the identical product in different customer's own packaging. On the shelves in shops some charged twice as much as others. Their packaging wasn't that good :lol:

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I hope you mean their misguided logic not mine.

I once worked at a place where we supplied the identical product in different customer's own packaging. On the shelves in shops some charged twice as much as others. Their packaging wasn't that good :lol:

What was the name they put on the double the price for getting exactly the same or did it blind people with scientific words people can't understand but think must be somewhat special and worth paying for...because they think it is worth it? :P

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Would that be a cabinet position?

OK, OK, I'll get me coat.

No... the cabinet doesn't have a chairman.

Spending good money on furniture can make sense, but why people buy new overpriced tat like this is beyond me. I am sure for the kind of money charged you could buy genuine antique asian tables that would at hold their value as well as being more authentic. There is clearly no resale value here as the 900 quid coffe tables that are still available are selling used on ebay for under 200.

http://www.ebay.co.uk/itm/Lombok-Dark-Teak-Glass-Topped-Coffee-Table-/120760098570?pt=UK_Home_Garden_LivingRoomFurniture_EH&hash=item1c1ddcdf0a

http://www.lombok.co.uk/Glass-Topped-Dark-Teak-Coffee-Table-PCTGL/

Edited by ScrewsNutsandBolts

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Looked on their site £800 for a coffee table. :o not surprised. ;)

You could have a holiday to Lombok for that much - and pick up a coffee table there for a tenner.

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  • 338 Brexit, House prices and Summer 2020

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      • down 5% +
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      • Even
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      • up 5%



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