DFS swoop on Multiyork in £1.2m deal

Derby’s Multiyork Furniture has been targeted by Sofa group DFS after entering administration, in a deal said to be worth £1.2m.

DFS has bought eight stores and assets from Multiyork Furniture to boost its national chain and Sofa Workshop brand.

The deal comes after 50-strong store chain Multiyork collapsed in late November, putting more than 500 jobs at risk.

DFS said it has struck a £1.2 million deal to buy eight store leases from administrators of Multiyork Furniture as well as the intellectual property rights of Multiyork, including the Multiyork trademark, product designs, domain names and marketing databases.

Staff from the stores are expected to be offered roles within DFS.

DFS plan to convert six of the bought stores into the Sofa Workshop brand and two are to trade as DFS.