Duff & Phelps secures mattress division of Breasley Pillows

Part of a Derbyshire mattress manufacturing firm has been sold out of administration saving 60 jobs. Following the appointment of joint administrators, the Duff & Phelps professionals began a review of the company, and quickly determined that a pre-pack administration would be possible.

Founded in 1977, Breasley was one of the first companies in Britain to launch a range of vacuum-packed mattresses. Alongside the successful Uno range, the company is also experienced in producing own-label mattress ranges. Breasley’s premium non-vacuum packed Salus brand, for example, was launched in 2009, and has evolved into a wide-ranging collection of high-quality mattresses, divans, headboards and fabrics.

Unfortunately, volatile trading conditions in the last year saw Breasley collapse into administration. Earlier in May, Benjamin Wiles and Philip Dakin, both of Duff & Phelps, were appointed joint administrators at Breasley Pillows, which is based in Water Lane, Wirksworth. After being appointed, the professionals began a review of the company and determined that a pre-pack administration would be possible.

As a result of the review, the mattress and bedding division of Breasley has been bought in a pre-pack deal backed by an investor based in China, who has a broad portfolio of investments in property, service and soft furnishing industries. A total of 60 jobs have subsequently been saved.

Benjamin Wiles commented, "We are thrilled that we have been able to secure the future of the mattress and bedding division of Breasley, saving 60 jobs in the process. This was especially important to us in the current climate."

The foam conversion division of Breasley remains in the control of the administrators. A sale of the property is also being pursued as a going concern.

Elsewhere in May, Arlington Automotive Group also called on Duff & Phelps to oversee its administration. The firm had reportedly committed to a costly expansion campaign, which put strain on its cash flows as the UK automotive sector faced a number of volatile headwinds.