Fri, 06 Sep 2013 | BUSINESS SALE
Curtain company Montgomery Tomlinson, located near Broughton, has been purchased by a venture capital company.
The business collapsed last month after struggling to find a buyer to take it forward. Will Wright, joint administrator of Montgomery, said that the company had been struggling to survive in “an increasingly competitive marketplace”.
Although a buyer could not be found before the company entered administration, the fact that a sale has now gone through should ensure a future for the business. Manchester-based investor Amin Amir from a2e Venture Catalysts is leading the purchase. The sale will see a management team take a 20 per cent stake in the company.
Mr Wright commented on the sale: “Since our appointment two weeks ago, we have been working tirelessly to ensure a sale of the business in order to minimise disruption to customers. We are particularly pleased that the sale opens up re-employment opportunities for a number of Montgomery Tomlinson’s former staff. We wish Montgomery Furnishings all the very best for the future.”
A large proportion of the jobs at the company will be safeguarded, among them office and factory positions and some department store employees.
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Related information:
Montgomery Tomlinson enters administration
View the latest businesses in administration
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