23 May 2024, 03:12
By Furniture News May 11, 2023

Machinery manufacturer rescued in pre-pack deal

After going into administration last month, mattress machinery supplier MPT Group has been sold in a pre-pack deal.

Rochelle Schofield and Mike Dillon of Leonard Curtis were appointed administrators of MPT Group Ltd on 14th April.

The business had traded successfully since 2009, say the administrators, yet "a supply shortage of microchips required for its core range of machines prevented the company from being able to complete projects. Equipment delays exceeded 18 months, and whilst the company made efforts to try and continue, the increase of external pressures saw a decision made to appoint administrators."

A sale of the company’s business and assets was completed to MPT Group Mattress Machinery Ltd, with all jobs transferred under TUPE to the purchaser.

Rochelle comments: “The pre-packaged sale achieved represents the best outcome for the company’s creditors as a whole and has resulted in the successful transfer of all jobs to the new entity.”

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