Administrators for the furniture company Multiyork are making 112 people redundant at its headquarters and factory in Thetford.
Allan Graham and Matt Ingram, of Duff & Phelps, joint administrators to Multiyork Furniture today announced that the company will begin a process of orderly wind down.
Multiyork has 50 retail stores nationwide and a manufacturing facility and headquarters, employing 300 people,in Thetford.
Mr Graham said: “Despite considerable effort from both the administrators and the senior management team at Multiyork, it has not been possible to agree a sale of the entire business yet.
“While we recognise that there were some offers made, they were not at a level that either produced an acceptable outcome for the company’s stakeholders or could guarantee the future stability of the business.
“We will continue efforts to sell all or parts of the business; but during this period of managed wind down, the process of selling in-store display items and other business assets will begin. We will also continue to fulfil customer orders.”