Not quite true! The company is still trading so there won't be a closing down sale.
After parting company with Russian oligarch Sergei Pugachev, who extended him a £400,000 loan, the Queen’s nephew Viscount Linley has lost control of his beloved furniture company, which he set up in 1985.
Like a scene from TV’s Dragons Den, Linley, 50, has given 60 per cent of his bespoke business, known simply as Linley, to the man who replaced financier Pugachev, British yacht-broker Jamie Edmiston.
Following a £4million investment, Edmiston is now the chief executive officer of the company, although the peer remains a director and a minority shareholder.
Several years ago when I happened to have a spare morning in London, I took the opportunity to have a look round his showroom in Pimlico. It was full of what was, at least to me a lot of rather clunky, very square furniture with aluminium stringing which I loathed. No idea what he has been making since then, I have never felt the desire to look again. It also had a very toffee nosed atmosphere with much bowing and scraping to the one or two obviously extremely well healed customers present. I can imagine that this, in itself, might have limited his market, and a largish showroom in Pimlico can't be cheap. The prices were, of course, what you might expect. It could, of course, also be that his range of furniture lacked sufficient appeal. He did have some quite natty silver key rings with dovetailed wooden fobs, but I wasn't tempted.
I remember some years ago reading a letter in one of the woodworking mags from a lady whose husband was a cabinetmaker, and he said he though he could make a very good living if he could sell his stuff for a third of Linley's prices!