Oldham-based furniture manufacturer Harrison Brothers Furniture has been sold out of administration in a deal which saves around 60 local jobs.
Christopher Ratten and Jeremy Woodside of RSM Restructuring Advisory LLP were appointed joint administrators to the bedroom furniture specialist on 23rd May.
Harrison Brothers has traded for over 40 years, supplying the retail and contract sectors with a range of bedroom furniture. According to RSM, the company suffered "some operational and trading issues" which put pressure on cashflow, and led to the directors placing the business into administration.
Following the appointment of the administrators, the company was subsequently sold to HB Furniture Ltd, a new company set up by the daughters of the company's original founders, Wendy and Jane Harrison.
Chris Ratten, RSM restructuring advisory partner and joint administrator, says: "The business has been trading for a long time in the area and has a skilled workforce, so it’s great to see that the deal will allow the business and staff to move forward under new ownership."
