Charltons Furniture has completed a Management Buy Out from its parent company, AJ Charlton & Sons Ltd. The MBO will be trading under the name Charltons Furniture Ltd, under the direction of Ross Charlton (MD) and Bill Howard (operations director).
"We are absolutely delighted at this move," says Ross. "This is all very much a natural progression for us. The main activity for AJ Charlton & Sons Ltd has been gates and fencing. As a furniture business, we have had to deal with very different pressures, demands and expectations. For everyone it made sound business sense for the furniture part of the business to develop on its own, with a small but very focused management team, able to react quickly and decisively in a marketplace that is capable of changing very rapidly."
The MD pf AJ Charlton & Sons Ltd, Peter Charlton, comments: "Ross and the rest of the team at Charltons Furniture leave with our very best wishes for what I know will be a very successful future for them. As two separate businesses we shall of course continue to co-operate commercially and the family links remain strong. However, the MBO has come very much at the right time and in the right circumstances for the development of both parts of the original family business."
Ross adds: "Our customers will notice little, if any, difference in the day-to-day running of the business. For everyone here at Charltons Furniture the MBO presents us with new opportunities and possibilities. Our business plan contains many new and exciting ideas, which we shall be revealing as 2016 unfolds. However, as far as our customers are concerned, they should also be reassured that looking after and supporting them remains our top priority."
