Amiri rescues Montgomery Tomlinson

AMIN Amiri’s investment company a2e Venture Catalysts has saved 200 jobs at Cheshire curtain company Montgomery Tomlinson.

The Manchester-based investor has stepped in for the business and assets of the 50-year-old firm which failed last month.

Based at Bretton near Chester, the company made and supplied curtains and other accessories and also ran a number of concessions in department stores.

In the year to the end of December 2011 it had sales of £20.1m, down from £23.2m the year before. Administrator KPMG said the company had suffered a further fall in sales and ran out of cash leading to around 500 redundancies.

Mr Amiri has acquired the business through a new vehicle called Montgomery Furnishings. He said: “Montgomery Furnishings has a great position within this niche sector, and is renowned for its unique customer service model and its traditionally biased British designs.  

“The core of the existing management has been retained and offered equity as a measure to energise and empower them to embark on an expansion of the business with greater focus on high quality services to an enhanced customer base.”

He added: “It is unfortunate that on many occasions, viable and at times iconic businesses end up being closed down with great negative impact on the economy and lives of people. I think insufficient focus is often placed by the relevant parties involved, on revitalising businesses and the insolvency laws in the UK don’t help.”

Graham Montgomery Tomlinson, who founded the business 50 years ago, said: “10 days ago when administrators were appointed the employees, customers and suppliers were looking into the abyss. Then Mr Amiri stepped in and with great zeal and innovation overcame all the numerous obstacles and basically rescued MT against all odds. We were impressed with his vision and integrity and a2e’s ethos. We are pleased to say that we believe MT will benefit greatly from a2e’s involvement.”