Lee Longlands has collapsed into administration after nearly 120 years of trading.
The Birmingham-based furniture retailer confirmed that Matthew Ingram and Allan Graham of Duff and Phelps have now been appointed joint administrators of the group, with their appointment officially confirmed on 19 June.
In a statement, the retailer said that both administrators will now manage the affairs, business and property of the company. It will continue to trade under the control of the administrators.
According to the BBC, the business said it had been forced into administration due to the “devastating impact of the coronavirus lockdown”.
Director Robert Lee said: “For almost 120 years, our family business and our employees have put our customers at the heart of everything we do. That will not change.
“We are very much open for business as usual and our customers can be assured we will continue to give them the highest levels of service as we restore our short-term finances and get back to work.”
He added: “Now the coronavirus restrictions are being eased and we can begin to operate again, we are working extremely hard, under the highest level of safety standards, to start deliveries again for all our customers and get our showrooms open.”
Matt Ingram, joint administrator from Duff and Phelps, said: “Lee Longlands is a household name across the Midlands and has a fantastic reputation for quality and service.
“It is a long-standing profitable business and the fact the appointment of administrators has been necessary demonstrates the devastating financial impact that this pandemic will leave in its wake.”
He added: “Being unable to trade for almost three months has severely disrupted its working capital cycle.
“We will be focusing on restructuring its cash flow and exiting the administration period as soon as possible.”
Lee Longlands was first established in 1902, and opened its flagship Birmingham site in 1932. In addition, it currently trades from shops in Leamington Spa, Kidderminster, Abingdon, Derby and Cheltenham.