Begbies Traynor secures 50 jobs through Longpre Furniture sale

Begbies Traynor has helped sell a Somerset-based furniture firm out of administration, safeguarding the jobs of 50 employees.Longpre Furniture Ltd was placed into administration after being hit by financial losses on contracts, combined with increased prices for raw materials and utility costs.

Joint administrators Neil Vinnicombe and Paul Wood, from Begbies Traynor’s Bath office, oversaw the sale of the business out of administration.

The company, which was established in 1990 by master cabinet maker Paul Longpre and designer Helen Moyers, is based in the historic town of Bruton. They employ a team of “highly-skilled” craftsmen who make “exceptional” handcrafted furniture for clients across an international portfolio.

The sale of the firm and its assets on 1 March to Longpre Ltd means that all 50 staff will remain with the business.

Commenting on the sale, Neil Vinnicombe, partner at Begbies Traynor in Bath, said: “The financial situation Longpre Furniture Ltd faced has made it a very challenging time for the business, so we are delighted to be able to secure the future of these jobs.

“The losses had a significant adverse effect on cashflow, and this coupled with general economic and market uncertainty resulted in a lack of confidence that trading forecasts could be achieved, so the sale of the business injects a new confidence now we have found a way forward.”