The company has axed 297 jobs after calling in administrators from Interpath last month
A British furniture company whose products were sold by M&S and John Lewis has collapsed into administration.
Westbridge Furniture Limited has axed 297 jobs after calling in administrators from Interpath last month. Some employees were kept on to help wind down the business.
The joint administrators have since agreed the sale of the intellectual property and design rights to sofa and upholstery manufacturer Whitemeadow.
Whitemeadow intends to work with retailers of Westbridge products. Chris Pole and Will Wright from Interpath were appointed joint administrators on March 23.
The administrators said the business suffered from “operational disruption, weak trading and the loss of a key customer” and they were not able to find a buyer to take it over fully.
Production at its site in Holywell, Flintshire, ceased on April 2.
Mr Pole, managing director at Interpath, said: “The team at Westbridge has shown exceptional professionalism in maintaining production while we explored options.
“Regrettably, as no viable offers for the business were received, it was no longer possible to continue trading and we have had to take the difficult decision to close the business.
“We recognise this has been a challenging period for staff, and I’d like to express my sincere thanks for their commitment.”
Mr Pole added: “The agreement to sell the IP and design rights to Whitemeadow preserves Westbridge’s range for retailers.
“We wish the Whitemeadow team all the best as it embarks on a development programme to reintroduce those designs to the market.”
In more business news, WeFlex, which specialises in supplying electric vehicles and flexible car financing for ride-hailing motorists, including those driving for Uber and Bolt, collapsed into administration earlier this year.
The business mainly functioned in London and Birmingham and was founded in 2016 by Nicko Williamson.
Rather than a total collapse, WeFlex has joined forces with Otto Car to guarantee that motorists currently operating are not left stranded.
Quiver Delivery has also appointed liquidators. The London and Paris-headquartered operation offered an emission-free delivery service. The service focuses on enabling retailers to offer same-hour, same-day or next-day delivery to shoppers.
Meatalier, which runs MEATliquor, has also brought in administrators. The group, with venues across several busy London locations, including Oxford Street and Covent Garden, has recently seen multiple restaurants shut down due to financial difficulties.
