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A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Black Arrow Group sells Paragon Business

Thursday 6 December 2007

Black Arrow announces that it has exchanged contracts for the sale of its Paragon Business to Paragon Business furniture Limited. Paragon, which operated through Paragon Business Products Limited manufactured and supplied office furniture mainly to the government sector. The sale price includes the outstanding order book plus fixed assets, the intellectual rights to the Paragon Brand name and product ranges.
The last reported audited accounts of Black Arrow 31 March 2007 included the results of Paragon Business Products Limited which lost £663,000 before tax, on turnover of £6,300,000 and had an excess of liabilities over assets of £2,100,000.
Practical completion was 1 December 2007.

The initial consideration is £67,000 payable in cash immediately with up to a further £500,000 in cash payable over the next 12 months dependant upon the business achieving certain target turnovers.
The proceeds will supplement the working capital of the remaining businesses
.

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