Furniture coverings, curtains and upholstery specialist Plumbs has been saved through a prepack deal following yesterday’s appointment of PwC’s Sarah O’Toole and Jane Steer as joint administrators.
plumbing specializes in furniture reupholstery, providing custom-made furniture covers and offering a wide range of interior furnishings, including curtains and blinds. It is based in Preston and serves clients across the country.
According to PwC, the company has recently faced significant challenges related to poor trading performance and increased operating costs.
Administrators have completed the sale of the majority of the company’s business and assets to new trading company Sarah Plumb Ltd, including the transfer of 239 employees. Two redundancies were made due to minimal remaining business and assets not included in the sale.
The transaction honors all existing orders, protecting all customer deposits.
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