The company floated on the stock market in 2017 with a £140 million valuation, but has suffered declining customer numbers and increased cost pressures in recent years.
In June, it revealed it was looking for a buyer or new investor as it warned it would miss revenue targets for the year after a period of significant consumer downturn.
Its chief executive said on Monday morning that it was “heartbreaking” that terminating the sales process and appointing administrators was the best way to preserve value for creditors, partners and suppliers. Bensons – which operates 166 stores across the country – has ambitious plans for growth and transformation after recently securing additional investment from its owner, Alteri Investors. North London-based Eve will be added to its portfolio which already includes beds and mattress brands Slumberland and Staples & Co.
Gavin George, chief executive of Alteri Investors, said: “It is encouraging to see Bensons continuing to strengthen its position in what remains a challenging market.Sign upDid you know with a Digital subscription to Yorkshire Post, you can get access to all of our premium content, as well as benefiting from fewer ads, loyalty rewards and much more.