Written by: Keith Tully
Reviewed: Saturday 6th July, 2013
Last month we reported that upmarket retailer Dwell was on its last legs. The furniture chain, which has 24 stores nationwide, went into administration and John Whitfield and Philip Duffy of Duff & Phelps Ltd were appointed as joint administrator.
However, the business has been given a fresh glimpse of hope after its founder made a surprise comeback to lead the company to salvation.
Aamir Ahmad started the firm in 2003 with his family and friends but was replaced, alongside his co-founders, in November last year.
Upon his return as CEO, he now plans to keep Dwell operating from five high street stores as well as online, saving over 150 jobs.
Mr Ahmad said: “Our priority lies with the customers and suppliers who have been let down by the former management. We are working hard to try and resolve the issues, in particular outstanding customer orders.
“Although we are not legally obliged to, we are doing everything we can to find a solution for customers who have lost out. Our primary goal is to help customer and suppliers regain their trust in the dwell brand.”
According to a company announcement, stores will remain open in Tottenham Court Road, Westfield White City and Westfield Stratford in London, Barton Square in Manchester, and Lakeside in Thurrock. Talks are underway to try and salvage the remaining stores and jobs.
The news sparks optimism for other UK companies that are struggling with finances. Where there is a will, there is a way and the experts at Real Business Rescue can help to recover struggling businesses.
Take the first step today by getting in touch with the turnaround specialists by calling 0800 644 6080 , or alternatively, email [email protected]. If it’s possible to save your business from the brink, we’ll find the solution.