A prominent British homeware retailer has announced the closure of all its stores following its entry into administration. Fired Earth, known for its high-end tiles and home interior products, has made 133 employees redundant as a result of this decision.
Details of the Closure
The announcement came as joint administrators Dane O’Hara and Neil Bennett from Leonard Curtis were appointed on October 31. While the company’s retail operations will cease, its head office and warehouse in Banbury will remain functional to process existing orders.
Store Locations Affected
Fired Earth operated 20 showrooms across the UK and supplied products to 22 independent stockists. The following locations are set to close:
- Bath
- Bristol
- Exeter
- Cheltenham
- Truro
- Nottingham
- Chester
- Knutsford
- Harrogate
Additionally, the company had two stores in Denmark and Norway that will also be affected.
Financial Challenges
Fired Earth has faced ongoing financial difficulties, with an estimated turnover of around £15 million. However, it recorded a loss of £1.6 million in both 2023 and 2024. Throughout this challenging period, the company received substantial loans from its shareholder, but further funding was not forthcoming amid a lack of a workable turnaround strategy.
Future Prospects
There are reports of interest from potential buyers looking for an asset-only acquisition of the company. This situation presents a glimmer of hope for Fired Earth, despite the significant job losses.
In light of this closure, other retailers in the UK, like HMV, are making strides in their recovery. HMV has recently announced plans to expand its presence on the high street after successfully coming back from its own administration in 2019.
The closure of Fired Earth underscores the challenges faced by homeware retailers in the current economic climate, as consumer preferences and market conditions continue to evolve.
