The joint administrators of The Quality Furniture Company Limited have confirmed that its Grantham firm will cease trading from tomorrow.
Grantham Quality Furniture, which is based at Alma Park and employs 161 people, has confirmed it will cease trading on October 12.
The company, which was formerly Grosvenor Furniture in 2012, appointed administrators KPMG in August 2, with the aim of finding a buyer for the firm.
Chris Pole, partner at KPMG and joint administrator said: “We have continued to trade the business since our appointment on August 2 to enable time for a sale of business process to take place.
“Unfortunately, despite a number of expressions of interest in the business, no acceptable offer was received following the marketing process and as a result, trading will cease on October 12.
“Whilst we will be retaining a small skeleton workforce in the short term to assist us with the wind down process, the majority of the 161 workforce will regrettably be made redundant.
“All affected staff have been informed and will be paid up to and including their last day of employment.
“We’d like to thank all employees for the support, service and co-operation they have provided to the company, both before and during the administration.”