EMCC European Monitoring Centre on Change

Courts

Company/Organisation:
Courts

Geographic Location

Country: United Kingdom

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
47.5 - Retail sale of other household equipment in specialised stores
Number Employed: 1400

Employment Effects

Announcement Date: 30-11-2004
Planned Job Reductions min: 1400
Planned Job Reductions max: 1400
Type of Restructuring: Bankruptcy/Closure

Additional Information

The UK arm of the 154-year-old Courts furniture chain is to be put into the hands of administrators after its banks called in loans. The banks, which are owed £280m, are expected to appoint accountants KPMG to run the struggling British operation, presumably with a view to trying to sell it off or break it up before resorting to closure of its 89 UK stores and the possible loss of 1,400 jobs.