Corby-based kitchen supplier Pullman Furniture has been saved from closure by an unnamed buyer.
Last month, managing director Phil Player announced that the company would cease trading at the end of August in a Members Voluntary Liquidation (MVL).
He blamed the decision on the breakdown of the company’s main CNC machine, but admitted price increases and a number of other factors had also played a part.
However, Player has now revealed that a deal has been struck to ensure production continues and all staff are retained.
“I have had someone make an offer for Pullman Furniture so the closure will not be going ahead,” he told kbbreview.
“Production will continue, probably under the name of Pullman Interiors Ltd, which will be taking over on July 1, 2018, giving continuity to my customers and staff.”
Pullman Furniture was formed in December 1996, three years after the collapse of Player’s first business, Homefit Furniture, which he launched in 1974.
The company turns over around £900,000 a year and its supplier list includes Blum, Burbidge, PWS and Häfele.
No other details of the deal were available at the time of going to press.