Begbies secures future of interior design business
Receivers of a leading Somerset interiors and design company have applauded its management for saving its future and that of its employees by taking early action.
Begbies Traynor said it had sold Stuart Interiors out of receivership, saving 30 jobs at the firm. The company went into receivership in May after the directors identified imminent cashflow problems. It was sold to a new company, Stuart Renaissance.
Ian Walker, joint receiver with Andy Beckingham, said: ‘This is a successful outcome for a leading company in a notoriously competitive market. Good management identified a serious problem before it became a crisis, and then sought timely and appropriate help.’
The company will continue to trade from its distinctive base in the Tudor manor house of the National Trust’s Barrington Court.