SOFA company Multiyork has gone into administration putting 550 jobs under threat across the country

The furniture retailer, based on Mersey Street in Warrington town centre, will trade until Christmas at the earliest while administrators Duff & Phelps seek a buyer.

The company says they will honour all existing orders placed until 22 November and customers will be contacted by the retailer.

The chain employs 547 staff in 50 stores and a manufacturing site in Norfolk.

Employees were told of the collapse on Wednesday afternoon and the management team will stay in place.

A spokesman for Duff & Phelps said Multiyork had been affected by 'difficult trading conditions'. 

He added: "Multiyork is still open for business, still trading - it's very early days for the administration.

"We're really hopeful we can find a buyer.

"Trading conditions for UK retailers continue to be difficult due to a number of factors including economic uncertainty, rising commodity prices, increasing business rates and the fall in value of the pound which has increased the cost of importing raw materials and products.

"This appears to be leading to a sharp fall in consumer confidence and less money being spent on discretionary items."