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 had fallen into administration, despite cost cuts and winning market share.
Moores supplies kitchens to housebuilders, as well as to the public sector and affordable housing developers.
The company’s situation had been exacerbated by rising input costs and low levels of housebuilding activity in recent months.
James Clark and Will Wright from Interpath were appointed joint administrators to Moores Furniture Group Limited on 19 January. 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.
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 around 336 members of staff to support with this process.
Approximately 124 employees have been made redundant.
“The strong headwinds facing the UK construction industry continue to have an impact on companies up and down the supply chain,” said James Clark, managing director at Interpath.
“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.”
