Dwell bought back by founder
Dwell, a UK-based furniture chain backed by Key Capital Partners that went into administration at the end of June, has been bought back by founder Aamir Ahmad.
The last-minute rescue will reportedly help safeguard 150 jobs. The retailer will reopen five stores as well as its online shop. Ahmad, who founded the business in 2003 and left last year, will return as CEO.
Dwell went into administration at the end of June, with 23 store closures and 300 staff layoffs looming. Around £1m in customer deposits were also at risk. The company confirmed at the time it would not deliver orders still being processed at the time of the collapse.
Key Capital invested €5m in the business in 2010.
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