The Oak Furnitureland store in Derry will permanently close its doors on Friday (August 21), it was announced.
The popular hardware chain will keep its other outlet in Belfast, at Shane Retail Park, Boucher Road opened.
Last month, the company announced that it would be closing down 27 of its 105 stores throughout the UK. The business, founded in 2006, was recently acquired by global investment manager, Davidson Kempner Capital Management LP.
A spokesperson for Oak Furnitureland said the acquisition gave them a "secure financial footing for the future". However, they added that whilst the business had "stabilised" since showrooms reopened, the retail environment coupled with current adverse trading conditions continued to be "challenging".
Commenting on the announcement, Oak Furnitureland CEO Alex Fisher said: “The current proposal to close some showrooms forms part of a company-wide review that we are undertaking as a business.
"We are committed to driving forward a plan for our future growth, and although this has been a difficult decision, it is the right one for the business in these uniquely challenging times.
"We are confident that the decision will ensure we remain a competitive and dynamic choice for our customers.
"I would like to say thank you to all of my colleagues in every department who have been endlessly committed and patient during this process. Those employees affected have been informed and will be fully supported by our HR teams.”
