Failed Furniss to be snapped up ‘within days’
07 July, 2006
Biscuit company Furniss of Cornwall could have a new owner within days, predicted the administrator Ian Walker, who last month took charge of the business when it went into administration.
Walker, of Begbies Traynor, said that Furniss “just ran out of cash”, but added: “I’m fairly confident that it is going to be sold within the trade.”Before going into administration the business had been operating under the ownership of a Manchester-based consortium after being rescued from receivership in early 2004.After Walker took control, he shut down a small line making flapjacks and muffins and laid off the line’s 13 workers, leaving more than 100 workers. He said the business had “fairly good” remaining lines, including a travelling oven, which is only about 18 months old. Walker said so far he had received interest from about 25 potential buyers.