Several companies have shown interest in buying Highbridge’s Woodberry Bros & Haines since the firm went into administration earlier this month.
Administrators PricewaterhouseCoopers (PwC) told Burnham-On-Sea.com on Wednesday (July 23rd) that discussions have taken place with several firms who have “expressed an interest in acquiring the business and assets.”
As first reported here, the long-running company laid off 163 of its 175 workers on July 2nd after experiencing financial difficulties. The firm, based on the Walrow Industrial Estate, had a turnover of £10m and has manufactured furniture for retailers across the UK since 1949.
A spokesman at PricewaterhouseCoopers told Burnham-On-Sea.com this week: “Since appointment the administrators have worked hard with the support of certain key customers and suppliers to fulfil some outstanding orders from finished goods stock using the few remaining employees.”
“This has been done to enable discussions to take place with parties who have expressed an interest in acquiring the business and assets, which have been numerous.”
“So far, despite interest shown, no investment into, or sale of the business has been concluded.”
PricewaterhouseCoopers and Ross Connock and Matthew Hammond were appointed as joint administrators of Woodberry Bros & Haines Limited on Wednesday 2nd July 2014.
