The pre-pack administration deal was completed on the same day as administrators were appointed.

Lombok, which sells Asian-inspired furniture and accessories, is now controlled by a consortium led by Privet Capital and Paradigm, both turnaround investors. The consortium has acquired Angora, which has the right to trade under Lombok’s name.

Steve Keating, a partner at Privet Capital and newly appointed chairman of Lombok, says it is ‘very much business as usual’ for the retailer.

He adds, ‘All existing orders will be fulfilled, day-to-day operations continue as normal, our website remains fully functional and there will be no change to the trading name or store branding.’

William Landale has been appointed as CEO, while Lombok’s founder Alex Cresswell-Turner will remain focused on product development as creative director.

Myles Halley, restructuring partner at KPMG, handled the administration.