Harrison Brothers, a bedroom furniture manufacturer in Oldham, has been bought out of administration by the two daughters of its founders in a deal that has rescued 60 jobs.
Administrators Chris Ratten and Jeremy Woodside from RSM Restructuring Advisory LLP were appointed on May 23. They said that the company had “suffered some operational and trading issues which put pressure on cash flow”, which led the directors to place the company into administration.
The company has now been sold to HB Furniture Limited, a company set up by the founders’ two daughters Wendy and Jane Harrison.
Joint administrator Chris Ratten said: “The business has been trading for a long time in the area and has a skilled workforce; so, it’s great to see that the deal will allow the business and staff to move forward under new ownership.”
Harrison Brothers was founded in 1979 by Vic Harrison and his brother Robert – an engineer who worked as a quality inspector on aircraft production during the day and made furniture in the evenings.
At the time of writing, neither of the daughters was available for comment