Bed and mattress manufacturer ‘restructures’ firm after entering administration

A Derbyshire firm which makes mattresses, headboards and divans has entered administration and restructured one of its businesses.

Breasley Pillows, which is based in Wirksworth and employs around 200 people, operates under the Breasley Foam name and also makes mattresses and beds under the Salus and Uno brands,  had called in administrators from Duff & Phelps.

However, posting on LinkedIn last night, joint managing director of Breasley Foam Darren Crowshaw said that progress had been made to restructure the business and continue trading.

Darren Crowshaw said: “I am delighted to announce that we have successfully restructured the Breasley mattress & bedding division. Our new company Breasley (UK) Ltd is open for business with staff working in line with Covid-19 health and safety procedures. The completion of the deal marks an exciting time for everyone involved with the company and we look forward to continuing to bring high quality, comfortable sleep solutions to the UK bed market.”

Documents filed at Companies House show that Breasley (UK) Ltd was incorporated on 30 April this year. the firm has one director named – Pin Wen Hung, who has is listed as having an address in Ilkeston.

Breasley Pillows was established in 1977. In its latest accounts turned to 30 April 2018 posted revenues of just over £36m – and increase of almost 17% on the previous 12 months. Profits also increased slightly to £1.15m. At the time, Breasley’s board said it was confident this growth would continue “in the foreseeable future”.

A statement signed off by the directors of the company said: “The directors are satisfied with the results and year-end financial position, and hope to achieve growth by additional contracts won, improved efficiencies and a continuous monitoring of overheads.”

The accounts warned of possible challenges ahead including Brexit and rising foam prices, but it is unclear exactly why Duff and Phelps have been appointed.

A spokesperson for the administrators told TheBusinessDesk.com: “I can confirm that Duff & Phelps has been appointed administrators to Breasley but that we do not have a further statement at this time.”