- UK value homewares retailer Rosebys, which fell into administration in the last week of September 2008, has closed 10 of its stores and made 60 employees redundant after having cut 32 head office jobs. Howard Smith, joint administrator and KPMG Restructuring associate partner, said: " There has been significant interest in this business, though a deliverable deal has not yet proved possible. We continue to seek offers for the whole or any part of the business and are in discussions with a number of interested parties. " Closing some of the poorer performing outlets has been unavoidable to ensure trading remains at profitable levels," he added. According to KPMG, the retailer has received 45 expressions of interest in the business to date and is liaising with interested parties. The Rosebys group of companies, which trades as the high street value retailer, operates 270 stores and makes annual sales of £ 100 million. ( Source: MINTEL) - UK sports and leisure goods retailer JJB has had the credit cover for its suppliers withdrawn by its insurer Coface mere days after announcing poor results at its interim trading update. JJB chairman Roger Lane- Smith said: " My non- executive board colleague David Jones – formerly chairman and chief executive of Next – has described the current climate as ' the worst retail recession I have ever known'. I can only say that David's statement is borne out by our trading results." The retailer's auditors report also highlighted a dispute between JJB and HBOS, in which the bank claimed JJB had breached its banking covenants. This was strenuously denied by JJB, which has subsequently reached a new repayment deal with the Bank of Scotland. As previously reported, JJB announced a first- half pre- tax loss of £ 9.7 million for the 26 weeks to 27 July 2008. The retailer is also currently embroiled in a row with HBOS, one of its lead bankers, which is owed £ 15 million and has claimed that JJB is technically in breach of its covenants. ( Source: MINTEL) Comment: The sports and leisure goods industry is dominated by perennially discounting retailers – so in the recession, you have nothing new to offer customers therefore, so they don't have the benefit of taking business of non- discouting rivals as Aldi have done in food retailing. Elegant Regency Bar Back A carved mahogany and parcel gilt arm chair in the manner of Thomas Hope, the over scrolled carved toprail and padded arms enclosing an antique brown leather button seat and padded bar back, the seat rail with gilt roundels and on four sabre legs. The original Regency circa 1820 sold at auction in London for $ 31,000. 94RE4100725 W x 273/ 4 D x 38 H in. / 63 W x 70 D x 96 H cm