A specialist textiles manufacturer based in Preston has been bought out of administration in a prepack deal that has secured 239 jobs.
Plumbs, a fourth-generation family business which specialises in furniture cover, curtain and reupholstery, has been acquired by a new trading company called Sarah Plumb.
The business, which has its headquarters in Ashton-on-Ribble, has faced "significant challenges" recently due to trading underperformance and increased operating costs, according to PwC, who were appointed as administrators earlier this month.
PwC has now completed a sale of the majority of the business and assets of the company to the new trading company. As part of the deal, all existing orders are being honoured.
PwC have appointed CAPA to carry out a property audit over the 5 properties occupied by the business.
