Thu, 16 Dec 2010 | ADMINISTRATION
Newport-based furniture company Classic Furniture Ltd is set for a rapid growth phase after acquiring the assets of CS Contract Furniture following its administration.
Design-led manufacturer CS Contract Furniture supplied furniture to the leisure and hotel market from its base in Whitchurch, North Shropshire. It had been suffering cash flow problems for a while following a downturn in trading within the construction and tourism sectors and called in the administrators at the end of last week.
The business assets belonging to the firm have been taken over by Classic Furniture Ltd, saving 46 out of a total 78 jobs. Following the acquisition, the company will continue to operate from its existing Whitchurch location, but under a different name.
Senior manager of Walsall-based Griffin and King Ltd, Richard Owen, who has been called in as administrator, confirmed, “CS Contract Furniture went into administration on Friday.
“Classic Furniture has bought the business assets, but do not own the whole company. The business will operate under a different name from the same site, but its operations will not be changed.
“The fact that these two have combined operations mean it is thought that it will become one of the largest furniture suppliers in the country," he added.
The company is a well-established specialised contractor offering commercial decoration services across Central Scotland, known for its strong relationships with Tier 1 construction organisations and preferred contractor status. With a diverse projec...
This market-leading business specialises in bespoke, luxury kitchens and whole-house furniture, with expertise in handmade designs using responsibly sourced local hardwoods. Catering to high net-worth individuals, the company boasts a strong team and...
A well-established travel company with over 14 years of experience, it specialises in weekend breaks, five-day adventures, and summer holidays across the UK and Europe, offering the convenience of a door-to-door pick-up service. The business benefits...
FREEHOLD
07
|
Jul
|
Independent property firm acquires Blackpool estate agent | BUSINESS SALE
An estate agent based in Blackpool has been acquired by grow...
07
|
Jul
|
Poke restaurant chain acquires rival | BUSINESS SALE
Honi Poke has acquired rival poke chain Island Poké i...
07
|
Jul
|
MSP Contrac IT set for M&A growth after acquisition by telecoms group | BUSINESS SALE
Venridge Limited, a Yorkshire-based managed services provide...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.