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Daily Mirror
Daily Mirror
Sam Barker stops taking new furniture orders as firm faces collapse after rescue talks stall has stopped taking new customer orders as talks to save the firm stall.

The retailer sells trendy furniture and home furnishings online - but does have a physical store in London's Soho district. went up for sale last month, but no buyer has been found.

Today the firm said it had "taken the decision to temporarily suspend new customer orders" and said the situation was under review.

The website now has no options to buy furniture.

A statement on the website said: "Sit tight, we’ll be back soon. We’re making some important updates to improve your shopping experience."

The website is now not taking any new order ( floated on the London Stock Exchange last June.

But its share price has dropped to just 50p now from highs of £208.60 last June. needs £70million to stay in business without a buyer, The Times reports.

Yesterday said it had spoken to a number of interested buyers, but was unable to secure a deal.

A stock exchange statement said: "The Board invited a select number of parties to work towards firm offers by the end of October. Following further discussion, those parties have all now confirmed to the company that they are unable to meet the necessary timetable." added that there was no certainty a deal could be struck. It strongly hinted that the company could be wound down if a buyer is not found.

The firm added: "If further funding cannot be raised, or a firm offer for the company is not received before the company's cash reserves are fully depleted, the board will take the appropriate steps to preserve value for creditors." has been approached for further comment.

Experts say consumers have an uncertain future if goes into administration.

Which? consumer rights expert Lisa Webb said: "The prospect of entering administration will be concerning news for customers with orders placed - and exercising rights is not always straightforward in these circumstances.

"If a company enters administration, it may not accept the return of items. Many customers may find themselves in a situation where items have not been delivered."

It is always worth trying to claim for a refund in this situation, Webb added, but there is no guarantee.

The cost of repairs for faulty items could still be claimed if they came with a warranty.

She added: "If you've bought something on your credit card costing more than £100, the card provider is jointly responsible for any breaches of contract.

"You can claim under Section 75 of the Consumer Credit Act if the item is faulty or not delivered. If you paid for goods that cost less than £100 on a credit or debit card, you may be able to claim under chargeback." is not the only company to run into financial trouble this year.

In early May convenience store firm McColl's went into administration "to preserve the future of the business and to protect the interests of employees".

After emergency rescue talks Morrisons agreed to buy McColl's for an undisclosed amount.

McColl's employs around 16,000 staff, or roughly 6,000 full-time.

The supermarket chain already runs hundreds of McColl's stores, which are branded as Morrisons Daily.

It's also a major supplier to McColl's, and provides products under the Safeway brand.

The firm has 755 McColl's stores, 270 called Morrisons Daily, 116 Martin's and eight called RS McColl, the latter all in Scotland.

It has Post Office counters in a third of its 1,100 branches.

The supermarket saw off competition from the EG Group to buy McColl's.

The EG Group is owned by the billionaire Issa brothers, who own Asda.

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