Courts furniture stores stay shut

Many customers lost money; others cannot collect purchases

Courts Furniture stores across the UK are to remain closed after a number of aggressive incidents towards staff and property, administrators say.

The company collapsed under the weight of its debts last month.

Customers have lost money because Court's financial problems mean that furniture makers will not now fulfil the chain's outstanding orders.

Administrators KPMG said it had received a number of offers for "significant" parts of the UK chain.

In the meantime, threats from angry customers are preventing stores opening to let shoppers collect purchases.

"We appreciate customers' frustration and would like to be able to open the stores to facilitate the release of stock," said KPMG's head of corporate recovery, Mick McLoughlin.

"But we have to put the safety and security of Courts staff first."

Buying interest

Administrators said they have received a "good level of interest" from potential buyers of the chain, or at least parts of it.

We are looking for the best deliverable deal for the creditors, employees and customers Mick McLoughlin, KPMG

KPMG would not name any names, but suitors include retailers, property firms, private investors and private equity houses.

"We anticipate that it will take two to three working days to obtain clarification of the bids and move onto the next stage of the sale process," said Mick McLoughlin.

"We are looking for the best deliverable deal for the creditors, employees and customers."

The closure of Courts's 88 stores will not affect the sale process, KPMG stressed.

Administrators have already sold off Courts Contracts to its management team for an undisclosed sum.

The non-core unit operates from eight warehouses and fits out show homes for residential building companies.