Jobs saved as shopfitter bought out of administration

INTERIOR and restaurant fit-out specialist GF Group has been bought out of administration by a consortium backed by its founder and a group of former directors.

The Brighouse-based business includes specialist joinery manufacturing business Inform Manufacturing.

In 2009, GF Group founder Gordon Fawthrop sold the business to a £7m management buyout (MBO) team. It went into administration in February following a downturn in business and rising costs.

It was established in 1979 and had grown to be a leader in its sector with clients including restaurant chains such as Nandos and Frankie & Benny’s, and retailers including Flannels.

Mr Fawthrop and a group of former colleagues have been able to secure the assets and goodwill of the business to ensure the safety of at least 30 of the staff following weeks on ongoing negotiation with several potential buyers.

The firm had employed in excess of 120 staff before the failure in February.

The new company will be headed by Mr Fawthrop as chairman and David Morton.

Mr Morton said: “We have worked very hard to put together the right deal to take the business of GF Group out of the hands of administrators. We now have the opportunity to rebuild a great business which we have all spent many years developing.

“It is devastating that over the past months so many of our colleagues have lost their jobs, and we are determined to get this firm back to full strength as soon as the market allows.

Joint administrator Charles Brook of Begbies Traynor said: “GF had a fantastic brand within its sectors, and there was considerable interest and competition from potential buyers. T

“The management’s previous knowledge of the company and its secure funding mean that we can be confident the business has a bright future under the continued direction of the people who founded and grew it prior to the 2009 MBO deal.”

The administrators were advised in the structured deal by Leeds-based lawyers Lee & Priestley while the purchasers were advised by Huddersfield law firm Baxter Caulfield.