Moores Furniture Group pre-pack deal overseen by Interpath administrators

Moores Furniture Group has gone into administration, blaming "challenging trading conditions". While 124 jobs were lost, the firm’s assets have now been sold to Wren Trade Kitchens, in a pre-pack deal brokered by Interpath experts.

Founded in 1947, Moores Furniture Group has supplied kitchens to housebuilders, the public sector and affordable housing developers for almost 90 years. Based in Wetherby, the firm employed more than 450 people. However, like many other companies in the construction supply chain, it has endured tough times recently.

Despite strong progress made in ongoing cost reduction and market share growth, the company had been weathering challenging trading conditions, exacerbated by rising input costs and low levels of housebuilding activity. And while the directors sought to explore options, including a potential sale and investment, no solvent outcomes were available. As a result, the decision was made to file for the appointment of administrators.

The decision saw approximately 124 employees made redundant, while 336 staff were been retained to help reduce disruption until a buyer was found. Upon appointment, James Clark and Will Wright from Interpath confirmed a pre-pack deal to sell the firm’s remaining assets to Wren Trade Kitchens. Moores Furtniture Group’s customer list and intellectual property assets were part of the deal.

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."