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NICHOLAS Radford has completed a buyout of the Nathan Furniture and Sutcliffe business in a move that safeguards the brands' future and ensures continuity of supply to stockists.


Mr Radford told The Furnishing Report he had acquired the brands through newco Glebe Furniture Trading Limited, after Nathan Furniture Limited was put through a “planned and orderly administration” process earlier this week.


Retail customers were aware of the plan, with Mr Radford writing to them last week outlining why the business had needed to be restructured.


The deal expedites a process which began last summer, when the business concluded that its Frostholme, Todmorden plant was unable to produce to the same level of quality as its partner factory in Indonesia, as well as it enduring “an intolerable level of damage in transit in the U.K.”


Mr Radford told customers that in order to be competitive the plant needed a massive capital investment to bring the building up to modern standards and to modernise the machinery.


“Unfortunately the finance for this was not available, so the best alternative solution was to move to an import business with specialist services added in the U.K.”


It enlisted the services of furniture logistics specialist Celtheath and began the process of moving production away from Frostholme, with the aim of that process being 80 percent complete by May and the rest by September.


However, financial pressures and the unanticipated loss of a large chunk of own-label production “forced us to expedite the plan with utmost urgency,” Mr Radford said, citing an unspecified retailer pulling one of its key ranges.


The buyout and restructure means an end to production at the business’ Frostholme factory, and will result in around 60 redundancies.


Nicholas Radford interview to follow next week.



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