A longstanding British furniture manufacturer has been saved from administration, securing 53 jobs and preserving nearly 50 years of craft-based industry.
The business, known for producing high-quality, hand-crafted furniture, faced collapse earlier this month before being acquired in a rapid rescue deal.
© summit1977
Wiltshire-based Summit 1977, operating out of a 45,000 sq ft factory in Trowbridge, was bought by Advanced Furniture through a pre-packaged administration led by Begbies Traynor. The company will now trade as Summit Workspace Ltd.
The buyer, Ebbw Vale-based Advanced Furniture, supplies contract furniture to both businesses and local authorities. Managing director Tim Price said the deal ensures the continuation of "a significant manufacturer of high-quality British furniture" and praised the skill and potential within the acquired team.
Administrator Neil Vinnicombe described the company as having a "fantastic product, strong asset base and loyal employees", making it an attractive proposition. He added the sale was "the best outcome for all parties".
The acquisition not only secures local employment but also revives a respected legacy brand in British furniture, with new backing to grow under experienced ownership.
Source: www.furniturenews.net
