Filter news by:

FRP Advisory appointed Administrators to Pedley Furniture International

22 July 2011

57 year-old hotel furniture business in Essex enters administration

Global hotel furniture supplier, Pedley Furniture International Ltd, was placed into administration on 22 July 2011, with the appointment of Joint Administrators, Jason Baker and Geoff Rowley, partners at FRP Advisory LLP, the specialist restructuring, recovery and insolvency firm.

Located at Shirehill Works in Saffron Walden, Essex, Pedley Furniture International is a family-owned business, employing around 70 staff. Founded in 1954, the company services hotels in the UK and internationally.

The Joint Administrators will continue to trade the business as a goingconcern, whilst seeking a buyer for the company.

Commenting on the reasons for the administration, Jason Baker said: "Sadly, as a consequence of the economic downturn, there has been a worldwide decrease in demand as hotel operators have either scaled back or postponed investment. As a direct result, Pedley Furniture International has experienced a lower than expected volume of sales, leading to a drop in turnover and cash flow difficulties.

"In the interest of the creditors and stakeholders, a decision has therefore been taken to put the company into administration, to enable it to continue as a going concern, whilst a buyer is sought."

Pedley Furniture International is an established brand and one of Europe's premier manufacturers of hotel bedroom furniture. It has completed many prestigious developments and has strong relationships with a number of the industry's leading operators.

Jason continued: "Pedley Furniture International is an important business for the area of Saffron Walden. We hope that a buyer can be located and that we are able to sell the business as a going concern, safeguarding the jobs of the employees and enabling the business to continue into the future."

The managing director of Pedley Furniture International, Alan Pedley, added: "I am very proud to be part of this distinguished company, known for its superior products and high-quality customer service. We are working hard with FRP Advisory to secure the survival of Pedley Furniture International, and are hopeful of a positive outcome for everyone involved, as well as for the continuation of British manufacturing."

Interested parties in the sale of the business should contact Andrew Cranmer at FRP Advisory on 07920 501 908 or via email using the online form below.

Press contacts

Kate Macnamara
Grayling
Tel:   +44 (0)121 265 2761
Mobile: +44 (0)771 422 2793