Future of 50 jobs secured as furniture firm sold out of administration

A Somerset-based firm which makes high quality furniture to individual specification has been sold out of administration, safeguarding the jobs of 50 employees.

Longpre Furniture Ltd was placed into administration after being hit by financial losses on contracts, combined with increased prices for raw materials and utility costs.

Joint administrators Neil Vinnicombe and Paul Wood, from business recovery experts Begbies Traynor’s Bath office, oversaw the sale of the business out of administration.

The company, which was established in 1990 by master cabinet maker Paul Longpre and designer Helen Moyers, is based in the historic town of Bruton. They employ a team of highly-skilled craftsmen, making exceptional handcrafted furniture for clients across an international portfolio.

They design and craft free standing and fitted furniture for residential and commercial addresses around the world.

The sale of the firm to and its assets on March 1 to Longpre Ltd means all 50 staff will remain with the business.

Commenting on the sale, Neil Vinnicombe, Partner at Begbies Traynor in Bath, said: “The financial situation Longpre Furniture Ltd faced has made it a very challenging time for the business, so we are delighted to be able to secure the future of these jobs.

“The losses had a significant adverse effect on cashflow, and this coupled with general economic and market uncertainty resulted in a lack of confidence that trading forecasts could be achieved, so the sale of the business injects a new confidence now we have found a way forward.”