Furniture cover, curtain and reupholstery specialist Plumbs has been rescued in a prepack deal following the appointment yesterday of Sarah O’Toole and Jane Steer of PwC as joint administrators.
Plumbs specialises in the reupholstery of furniture, providing made-to-measure furniture covers, and offering a range of home furnishings, including curtains and blinds. It is headquartered in Preston and serves customers nationwide.
The company has faced significant challenges recently due to trading underperformance and increased operating costs, says PwC.
The administrators completed a sale of the majority of the business and assets of the company to new trading company Sarah Plumb Ltd, including the transfer of 239 employees. There were two redundancies relating to the minimal remaining business and assets not included in the sale.
As part of the deal, all existing orders are being honoured, therefore protecting all customer deposits.
