Ninety jobs saved at Courts
Ninety jobs have been saved at troubled furniture group Courts thanks to a management buy-out.
Administrators KPMG have announced that the sale of buildings and assets of Court Contracts, a non-retail division of the company, helped safeguard the jobs.
Courts Contracts fits out show homes for residential building companies. It has been sold to the existing management team for an undisclosed sum.
‘The business did not form part of the core retail business, and a timely sale was vital to ensure that the customer support could be protected,’ said Mick McLoughlin, joint administrator and Head of KPMG Corporate Recovery.
Last week, angry Courts customers protested outside shops, and there were reports of ‘looting’ as they tried to recover items already purchased.