Deal saves eight out of 50 stores
DFS Furniture has acquired eight store leases alongside other assets and intellectual property of Multiyork, the furniture brand that went into administration before Christmas. The total price payable is £1.2 m
Six of the stores will be converted to trade as Sofa Workshop, another brand that DFS bought in 2017, while two more will be converted to DFS. Alongside the store leases, DFS has also acquired all intellectual property rights of Multiyork, including the Multiyork trademark, product designs, domain names and marketing databases.
Multiyork will continue to be traded by the administrators until 18 February, under a licence from DFS, at which point trading under the Multiyork brand will cease.
DFS CEO Ian Filby said: “We are pleased by this positive outcome, which offers a clear opportunity to accelerate our growth plans for Sofa Workshop, as it continues to go from strength to strength.”