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.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children