A flooring firm has cut 154 jobs after going into administration.
Birmingham-based Headlam said it had also closed 28 of its 76 trade counters, but that it would continue to trade while a restructuring takes place.
The company, which currently employs around 1,300 workers, said it will undertake a Company Voluntary Arrangement restructuring.
The administrators said the firm had been affected by a number of economic challenges, including cost inflation and fragile consumer confidence.
Headlam saw its shares suspended at the start of September after warning that it expected to hire administrators due to a shortage of liquidity.
It called in administrators on Tuesday and said its remaining 17 distribution centres and 48 trade counters would remain open.
The administrators also said the business would launch a refinancing of its debt facilities and cost reduction measures in order to help make its finances “sustainable” for the longer term.
Will Wright, UK chief executive at Interpath and joint administrator to Headlam Group, said: “Our immediate priority is to those employees whose roles have been lost as a result of today’s site closures.”
He said he understood it would be “devastating news” for those affected.
But he also said: “We believe the proposed plan provides a credible path to stabilising the business.”
