British furniture manufacturer bought out of administration by turnaround specialist

21st August 2009 | contract | Dundee furniture manufacturer Sella Office Furniture and its sister firm, Bury based Sella Office Seating, have been bought out of administration by a Staffordshire turnaround company.

Tenon Corporate Recovery was appointed administrator to both businesses, which were part of the Sella Furniture Group, last week, after a petition to wind up Sella Office Seating was filed by a creditor in June. The firm has had four CCJs against in the past three months, while the Scottish arm has two - one in June and another in July.

The Business Fort plc, based in Lichfield, has acquired the assets to both businesses, and is expected to work with existing management. The collapse and resulting bad debt of a major customer to Sella Office Seating was blamed for pushing the firm over the edge. The Business Fort is a specialist turnaround firm that buys companies in trouble.