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Stock impact report

Michel Roux Jr kitchen designer goes under in blow to middle classes [Yahoo! Finance]

The Middleby Corporation (MIDD) 
Last the middleby corporation earnings: 2/26 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
Moores Furniture Group has this week appointed administrators in a move that places hundreds of jobs at risk, with 124 employees being made redundant immediately. The company has brought in advisors from Interpath to handle the administration process. The 75-year-old company had previously been controlled by turnaround firm Hilco before a management buyout last September. Interpath said 336 employees had been retained for the immediate future to “work through certain work in progress”, including processing existing orders for customers. However, there is no certainty about positions for those employees after the work is completed. Its collapse is the latest sign that companies catering to the middle classes are struggling. Tile maker Fired Earth similarly collapsed late last year, while kitchen brands Smeg and Aga have both also recently warned over weaker demand from cash-strapped customers. Moores is one of Britain's largest privately owned kitchen manufacturers, supplyin Show less Read more
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