Contract furniture provider sold out of administration
A Wilmslow-based contract furniture provider has been sold out of administration in a deal which secures 22 jobs.
Chris Ratten and Jeremy Woodside from RSM Restructuring Advisory were appointed as joint administrators of Rosehill Project Management on April 28.
The company has since been sold following Rosehill FF&E, a subsidiary of Davic Properties Ltd.
The board of Rosehill FF&E includes managing director Mark Foster and projects director Ben Etherington, together with David Blyth and Vic Parr who have sat on the board of numerous successful companies over the last 40 years.
Rosehill FF&E joins Davic’s existing portfolio including the Gibraltar Stock Exchange, Scientific Analysis Instruments and One Legal Services, which have all enjoyed significant growth following Davic’s investment.
Chris Ratten, RSM partner and one of the joint administrators, said: “This sale represents the best outcome for Rosehill Project Management Limited’s creditors, it ensures the continuity of service for the company’s customers and importantly secures 22 jobs at the headquarters in Wilmslow.”
Mark Foster, managing director of Rosehill FF&E said: ‘Davic’s investment creates a strong platform for Rosehill FF&E to move forward with significant resources and with a talented and experienced team.
“The business is now well positioned to deliver sustained leading service levels and growth to create significant value and confidence for all involved. The Board has now received the support of key customers and suppliers and Rosehill FF&E is committed to fulfilling all contracts transferred to it.’
Rosehill FF&E were advised on the transaction by Myerson solicitors. The administrators were advised by Eversheds.