By Max Clarke
High street furniture chain Lombok has today gone into administration, the BBC reports.
Whilst few details have been made available by Lombok, or their parent company, Angora Retail Ltd, the retailer’s online business will remain open.
A total of 9 stores across the UK are to close, with undisclosed job losses. Three outlets will be spared, after being bought by Angora.
"In order to secure the future of Lombok in very challenging trading conditions, Lombok is in the final stages of an essential restructuring which is refocusing the company on its successful online offering and key flagship stores," a company spokesperson was quoted by the Sky News.
Lombok’s apparent demise follows a string of high profile high street closures, including Habitat, Jane Norman and Focus DIY, as severely constrained household incomes have resulted in families cutting back on spending. Retail is in a state of decline across much of the UK, with vacancy rates on the high street now averaging over 14%.
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