Jobs saved after furniture company is bought out of administration
Multiple jobs have been safeguarded after a furniture company whose sales went into decline after the vote on Brexit has been sold out of administration, a recent news report in the local business media has been able to suggest.
The sale of WJ White Ltd, which began manufacturing high-quality furniture in 1950, saves 48 jobs.
Administrators from Begbies Traynor were appointed on 18 December and immediately completed the sale of the company and its assets out of administration.
Joint administrators Julie Palmer and Sally Richards, from Begbies Traynor’s Swindon office, sold the company out of administration to recently established WJ White Contract Furniture Ltd.
WJ White has been manufacturing office and meeting room furniture from its premises at Britannia Trade Park, in Swindon.
Julie Palmer, who is regional managing partner for Begbies Traynor in the South West, said: "The company began to experience financial difficulties following the Brexit vote, and suffered a subsequent fall in demand.
"Furthermore, the high fixed costs associated with the business, such as its production factory, made its variable demand difficult to manage.
"However, the company has a bank of highly skilled craftsmen, and a quick and efficient sale out of administration allows us to be confident about returning the company to return to profitability, particularly given its history and the quality of its offering.
"The management team did precisely what needed to be done, contacting us quickly so we were able to effect a robust plan which safeguarded the jobs and now allows the company to look to the future with more confidence.
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