Dwell closes stores with immediate effect

Dwell, the furniture retailer, has ceased trading with immediate effect.

The company has closed all 23 stores – including branches at the Trafford Centre and in Deansgate, Manchester – and its one concession in the House of Fraser.

All employees have been asked to stay at home pending confirmation of the appointment of administrators.

Dwell began trading with a single store in Balham, South London in 2003.

The company had its headquarters in Milton Keynes, which was also home to its own central warehouse and distribution centre.

A spokesman from Dwell Retail Limited, stated: "The business had been working with its advisers, to secure further working capital for the business and was actively in the process of talking to a number of interested parties who saw the value of the Dwell brand and product, its customer base and its multi channel proposition.

"However, despite this interest it did not progress. As a result we have been left with no option but to close the business with immediate effect."