60 jobs saved in pre-pack sale of interior fit-out business
The sale of a Devon-headquartered interior fit-out business has been completed, saving 60 jobs.
Quantuma’s Chris Newell and Jo Leach were appointed as joint administrators of WFC Contractors Limited on 8 October 2024.
They completed the sale of the business shortly thereafter to Cheshire-headquartered RW Group of Companies, a group with experience in the purchase and turnaround of distressed businesses.
All 60 employees from WFC Contractors have transferred to the purchaser.
WFC Contractors provides high end interior fitout and refurbishment services on a national basis, specialising in the leisure and hospitality sectors.
The business has a long track record of delivering main contractor and project management services for leisure industry brands, from one-off projects through to national rollouts. Recently, the business had experienced cashflow difficulties stemming from higher costs and tighter margins.
Group chairman at Russell Taylor Group, Ben Russell, said: “I’m delighted to provide continuation of 60 jobs and to welcome our new colleagues into our group. WFC Contractors is a great fit for our business, and we are excited to implement our plans with our new acquisition in place.”
Chris Newell, joint administrator and managing director at Quantuma, said: “The sale is a very positive outcome for a well-established and reputable business. I am very pleased that all employees’ jobs have been saved and that the business will continue on its journey following this sale to a third-party buyer with the ability to take the business forwards.”
