BusinessBusiness RecoveryLeonard Curtis sells furniture stores in pre-pack

Leonard Curtis sells furniture stores in pre-pack

Walmsley has called in Leonard Curtis administrators Paul Masters and Alan Clifton for quick sale of the company's assets

FURNITURE RETAILER Walmsley has called in administrators from Leonard Curtis to conduct a pre-packaged administration.

Paul Masters and Alan Clifton from Leonard Curtis were appointed joint administrators to Unibrook, trading as Walmsley, and sold 25 stores on appointment.

It is expected the remaining 35 stores will shut, although the administrators have not yet released information on the number of staff likely to be made redundant.

A pre-pack involves the administrators marketing and arranging the sale of a business prior to it entering an insolvency process. The company or assets are then sold immediately on appointment.

A Walmsley’s spokesman said: “A sale was completed immediately following the appointment to an unconnected company. The sale included all the stock of the business and the buyer has taken over 25 of the stores.”

Related Articles

Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

5m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

5m Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

6m Emma Smith, Managing Editor
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

11m Emma Smith, Managing Editor