Mon, 19 Nov 2012 | BUSINESS SALE
Fultons Fine Furnishings is up for sale following news earlier this year that the company had entered administration.
PwC were appointed as administrators back in July at the owners' request and until now the firm has managed to keep its various furnishing outlets. However, plans are now underway to sell the retail stores, either separately or on a short or long-term leasehold basis.
A spokesman for PwC told the Lurgan Mail: “We have had discussions with a number of interested parties,” said a spokesman for the administrators. As administrators we are acting for the creditors and will talk to anyone bringing forward a proposal that would benefit the creditors.
“Since we have been appointed we are happy to talk to anyone in relation to the property or retail units.”
Fultons began business 50 years ago in Lurgan and expanded its operations to Belfast in 1991. It has established a reputation as a go-to destination for upmarket furnishings and its stores showcase interiors for all kinds of rooms.
The property side of the business recorded a profit in the year to February 2010 of £12,000 – a significant decline on the £1 million recorded in the year to the end of February 2007, highlighting the troubles the firm faced during the recession as consumer spending dropped rapidly.
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