Bank of England's furniture goes under the hammer

The Bank of England raised £266,605 on Wednesday 21 July by auctioning antique furniture after the 310-year-old institution adopted an open-plan layout at its London headquarters.

Chairs started from £100; the most pricey item in the sale was a mahogany side table from the early 1900s which went for £10,157. Governor Mervyn King, 56, has taken out a layer of management and reassigned responsibility for different business areas to individuals from committees.

Only the central bank's ground-floor