Homeform likely to enter pre-pack
The parent company of Kitchens Direct, Moben Kitchens and Dolphin Bathrooms may enter a pre-pack
ADMINISTRATORS ARE BEING SOUGHT for Moben Kitchens and Dolphin Bathrooms parent company Homeform, with suggestions it is likely to be sold in a pre-pack.
The company, which is owned by US private equity firm Sun Capital partners, filed an intention to appoint administrators, The Guardian reports.
It is suggested the directors are attempting to sell the business in a pre-pack, which arranges a sale of the business before it enters administration, and is sold immediately after entering the insolvency process.
Homeform, which also owns Kitchens direct and has 160 showrooms, employs about 1,300 people.
In its latest accounts, the company made a pre-tax loss of more than £6m for the year to March 2010.