Oak Furnitureland confirms Derry store will close this week

Last month, the company, the UK’s largest retailer of quality solid hardwood furniture announced it was proposing to close 27 showrooms, putting some employees in the business at risk of redundancy.

Earlier, on June 15, the company announced that, following a sales process conducted by Deloitte, it had been acquired by global investment manager, Davidson Kempner Capital Management LP, in a transaction that put the company on a secure financial footing for the future.

Also announced was that a strategic company-wide review would be undertaken. At that time, the company said that whilst the business had stabilised since showrooms reopened - the retail environment coupled with current adverse trading conditions continues to be challenging, and it was expected that 27 of its 105 stores will potentially close.

The news follows closures of a number of other major stores in Derry in recent weeks.