Key Capital Partners' Dwell close to administration

The company's pre-tax losses increased from £439,721 to £1.69m over the last 12 months. 

Dwell confirmed on Wednesday that the business has been working with its advisers, including Argyll Partners and Duff & Phelps, to secure further working capital for the business.

The statement said Dwell is "currently talking to a number of interested parties who see the value of the Dwell brand and product, its customer base and its multi-channel proposition".

It also stated that Dwell has not appointed administrators. However, the chain, which has 24 stores, could appoint its adviser Duff & Phelps as administrator, the Financial Times reported.

Key Capital invested €5m in the business in 2010.

UK retailers that have fallen into administration during the last 12 months include Republic, HMV, Jessops, Blockbuster and Comet.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Consumer
• United Kingdom