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Triumph Business Systems in Administration - 110 jobs go in South Wales

Saturday 12 March 2011

One of the UK’s largest office furniture companies is shedding a third of its 300-strong workforce after going into administration.
Triumph Furniture Company, which has sites at Merthyr Tydfil and Tredegar as well as a London showroom said a slump in sales to public sector bodies had hit orders.
Administrators said 110 people across the company were being made redundant immediately.
But the firm is continuing to trade as attempts are made to find a buyer.
We are very hopeful of selling the business and safeguarding the jobs of the remaining staff members” said Nigel Hamilton-Smith of FRP Advisory, Joint administrator
\"Triumph has experienced a lower than expected volume of sales from clients it had otherwise relied upon during the recession,\" said Hamilton-Smith.
\"As a result, the administrators have, regrettably, had to immediately make 110 staff redundant from across the business.\"
The company, founded 60 years ago, employs 296 full time staff at 300,000 sq ft of factories in Merthyr and Tredegar.
Administrators said the firm specialised in corporate furniture and storage, especially for local authorities and government departments.
\"It faced mounting losses as its public sector customers reduced their budgets and private businesses continued to spend less than before the recession,\" added Mr Hamilton-Smith.
\"We are working closely with the management team, and the local job centre, to process redundancy claims as quickly as possible and assist redundant members of staff with their search for work.\"
The administration team said it was now focusing on restructuring the company, adding: \"Triumph has a valuable asset base and a growing private sector market.

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