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08 Aug 2003
The company, which was established in 1890 and specialises in old-fashioned curtains, fabric and wallpaper, was undergoing a restructuring programme, following a management buyout, backed by a Dutch private equity firm.
Deloitte & Touche partner Neville Kahn said the company had been hit by poor trading in the second quarter and this, despite the restructuring, had 'exhausted the company's debt facilities.'
He said: 'It's not a huge business, it turned over £23m last year but the purchaser will be able to acquire it debt-free and the price [we are looking for will reflect that].
Khan expects to continue trading the company whilst finding a buyer and reassured existing customers their orders would be filled. He told the Financial Times Sanderson had already generated a lot of interest and had suitors both in the UK and overseas.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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