SOME of the assets of a family furniture chain have been sold less two weeks after the business went into administration.

Simon Allport and Neil Matthews, of Ernst and Young, administrators to North-East furniture retailer Conroys, have completed the sale of certain assets of the business to Furniture Village Limited.

The move ensures all outstanding customer orders will be fulfilled.

The assets acquired by Furniture Village include stock and the full customer order book.

In addition, the company will take over stores at Gates-head's MetroCentre, Stockton, and Darlington.

Simon Allport said: "We are delighted to have achieved this sale of Conroys' assets in such a short space of time, and are particularly pleased to have been able to negotiate an agreement which means that all customers will see their orders fulfilled."

Under the terms of the agreement, Furniture Village will honour all outstanding customers' orders.

It is in the process of contacting every customer to tell them their order will be supplied. It is expected that this will be completed within seven days.

Conroys revealed it was to go into administration earlier this month.

The family-owned company had run into cash-flow problems, and administrators were called in an attempt to save the Gateshead business, which employs 92 people.

Conroys blamed increasing competition in the furniture retail market, particularly from bigger companies, for its problems.

It had an annual turnover of about £20m and had six stores across the region.

At the time, the administrators said they would try to sell the business as a going concern.

The firm was started by Hazel and John Conroy, the parents of managing director Michael Conroy, in Stanley, County Durham in 1960.

It had expanded in recent years, taking on 40 staff two years ago.

At its height the company had 11 stores, employing 150 people, and there were plans to float on the London Stock Exchange.

Last August, however, it closed its store in Stanley to consolidate its position. Two shops in Yorkshire were also closed recently.