Welcome to JSA Consultancy Services

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.

Old management team buy Triumph out of Administration

Thursday 19 May 2011

The Triumph Furniture Company, which has supplied office furniture in Merthyr Tydfil and Tredegar for 60 years, was bought out by the firm’s management team. Partners at FRP Advisory became joint administrators when Triumph went into administration on 11 March. The insolvency firm called the family-run business “a respected local brand”.
The joint administrators – Nigel Hamilton-Smith, Geoff Rowley and Charles Turner – have been trading the business as a going-concern, while reviewing a number of expressions of interest from potential buyers.
Commenting on the sale, Mr Hamilton-Smith said Triumph was “a respected brand and a key local business”.
Although administrators were “delighted” with the strong level of interest, they added it was “crucial to identify a suitable buyer to safeguard the company’s future”.
“Often the best offer in these cases comes from the incumbent management team – they see the greatest potential and value in the business and, where the financial challenges have been down to external forces, are best suited to take the company forward,” said Mr Hamilton-Smith.
He added that the sale “not only protects the jobs of over 200 staff, it represents the best possible deal for creditors and retains the talent and experience of the management team.”
Triumph chief executive Andrew Jackson said the new restructuring gave an opportunity to “provide continuity and reliability of supply and choice” in a challenging market.
Mr Jackson added the company needed to “make sure we have the right product range at the right price for today’s business; and the opportunity to do what we’ve always done well: offer the trade new ideas which can bolster the work of all our dealers in difficult times”.

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.

 

 

moreLatest News

Wednesday 9 August 2017 Martela Corporation Half Year Financial Report 1 Jan - 30 June 2017

The January-June 2017 revenue and operating result declined from the comparison period. Decline in r

Friday 4 August 2017 Kimball International posts 4Q profit

JASPER, Ind. (AP) _ Kimball International Inc. (KBAL) on Wednesday reported fiscal fourth-quarter pr

Friday 28 July 2017 Difficulties persist, but Knoll remains profitable

UPPER HANOVER TWP., Pa. - Ongoing softness in sales of office furniture caused a decrease in revenue

Monday 24 July 2017 Steelcase Werndl changes name and relocates European Headquarters to Munich

Steelcase Werndl AG, a subsidiary of the American office furniture manufacturer Steelcase, will rena

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England


+44 (0) 20 7670 1510