A major North Yorkshire firm has been sold, saving more than 300 jobs.
The Moores Furniture Group, between Tadcaster and Wetherby, called in the administrators.
Now its customer list and certain other intellectual property assets have been sold to Wren Kitchens.
It means 336 people have been kept on, but 124 jobs have been lost.
Founded in 1947, Moores Furniture Group grew to become one of the UK’s most experienced furniture manufacturers, supplying kitchens to housebuilders, as well as to the public sector and affordable housing developers.
But it has been hit by rising prices and lower levels of housebuilding.
The directors sought new owners and investment but neither were forthcoming, so they called in the administrators.
James Clark and Will Wright from Interpath were appointed joint administrators to Moores Furniture Group Limited on 19 January.
They concluded a sale of the customer list and certain other intellectual property assets to Wren Trade Kitchens Limited, a subsidiary of Wren Kitchens Ltd.
The administrators are working with customers to try to reduce disruption in the supply chain, and as such, have retained 336 members of staff to support with this process.
But they have confirmed the redundancies of approximately 124 employees.
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.”
