Bunce’s Home Hardware has been forced to close all seven of its Sussex stores due to ‘cash flow difficulties’, an advisory firm assisting the company has confirmed.
Bunce’s Home Hardware, a family-run business which was launched in 1928, closed all of its seven stores with immediate effect on Friday, January 25, a spokesman at FRP Advisory LLP said.
All 30 members of staff at the stores have been made redundant, confirmed the spokesman.
Bunce’s has stores in Horsham, Storrington, Littlehampton, Steyning, Lewes and two stores in Worthing.
It sells electrical, gardening, bathroom, DIY equipment and homeware to trade customers and direct to consumers.
Ian Vickers, partner at FRP Advisory LLP, said: “Bunce’s Home Hardware has been in operation for almost a century, with a stellar reputation for providing quality goods.
“Unfortunately, the company has run into cashflow difficulties resulting in it having to close all seven stores.
“We are now focused on providing support to employees and stakeholders impacted by the closures and seeking to maximise returns for creditors.”
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Signs appeared on the windows of both Worthing stores on Friday announcing ‘this branch has now closed’.
Similar signs were put up in the store in Littlehampton.
The branch in Storrington closed its doors last Monday.