Leonard Curtis, in conjunction with S T Bennett & Co, has sold a long established homeware designer and producer which entered administration on 24 May.
D Mason Limited, a company funded by investors Baaj Capital LLP, has swooped for David Mason (Design) Limited.
Operating from three premises in Chesterfield, the company had operated successfully for over 60 years developing and designing products for the wholesale market together with the creation of bespoke ranges for high profile clients.
The homeware company, whose brands included David Mason Design, Foxwood Home and The English Tableware Company, had suffered from the adverse effects of the coronavirus pandemic and associated inflation. As a result of the need to shut down operations for a short period and subsequently increased shipping costs, cash flow and product pricing was adversely effected.
Following a discrete AMA process to market the opportunity, without damaging the underlying business, the joint administrators, Alex Cadwallader of Leonard Curtis and Stewart Bennett of S T Bennett & Co, assisted by solicitors Crowell Moring LLP, completed a sale of the core business, brands and assets enabling seven employees to retain their jobs.
Alex Cadwallader said: “I am pleased to confirm that we were able to complete a sale of this well-established business, both maximising the return to creditors and successfully transferring seven jobs to a new employer.”
Jas Singh, owner and director of Baaj Capital, said: “This exciting acquisition accelerates Baaj Capital’s plan to invest across a wide spectrum of business opportunities. The Homeware Sector being only one area of interest.
“Baaj Capital has actively funded acquisition of both distressed and solvent companies through many sectors over the recent past. David Mason Design incorporates both specialist product and innovative design with a reputation for quality and finish, and represents an exciting addition to the businesses trading with Baaj Support.
“Our thanks go to the Leonard Curtis and ST Bennett Team and Company Management for their help in delivering this project.”
