The customer list and certain other intellectual property assets of Wetherby-based Moores Furniture Group have been sold to Wren Kitchens via a pre-pack administration process.
Founded in 1947 in West Yorkshire, Moores Furniture Group has grown to become one of the UK’s most experienced furniture manufacturers, supplying kitchens to housebuilders, as well as to the public sector and affordable housing developers.
In common with a number of other companies operating across the building and construction supply chain, and despite strong progress made in ongoing cost reduction and market share growth, the Company had experienced challenging trading conditions in recent months, exacerbated by rising input costs and low levels of housebuilding activity. In response, the directors sought to explore the options available, including options for sale and investment. However, when no solvent outcomes were available, they took the difficult decision to file for the appointment of administrators.
Subsequently, James Clark and Will Wright from Interpath were appointed joint administrators to Moores Furniture Group Limited on 19 January 2021. Immediately after their appointment, they concluded a sale of the customer list and certain other intellectual property assets to Wren Trade Kitchens Limited, a subsidiary of Wren Kitchens Ltd.
Customers are advised that the Joint Administrators will continue to operate the Company’s facility for a short period to work through certain work in progress. As a priority, the administrators are working with customers to try to reduce disruption in the supply chain, and as such, have retained circa 336 members of staff to support with this process. Further information about orders will be communicated to customers in the coming days.
Regrettably, however, the administrators have confirmed the redundancies of approximately 124 employees. The administrators and their team will be providing support to those impacted, including supporting them with the information required to make claims from the Redundancy Payments Service.
James Clark, managing director at Interpath and joint administrator, said: “The strong headwinds facing the UK construction industry continue to have an impact on companies up and down the supply chain.
“Against this backdrop, we are pleased to have been able to secure a transaction which provides an opportunity to minimise disruption for customers and suppliers, and which will enable Moores’ heritage in kitchen manufacturing to continue as part of the Wren family.”
