20 jobs secured as shopfitting firm helped out of administration
Administrators have secured a buyer for Cumbernauld shopfitting business Pride Shopfitting, saving 20 jobs in the process.
Pride had run into difficulties after one of its customers failed to pay a significant debt.
But one of its main suppliers has stepped in with a deal to buy the firm out of administration.
The deal will see the firm sold to Pride Commercial Interiors Ltd, a newly-formed company owned by Instock Disposables.
Joint administrator Ian Wright of WRI Associates, said: “We are pleased to have completed this transaction within a tight timeframe, as it ensures continuity for customers and safeguards local jobs.
“We are particularly grateful to the business’s customers who supported the sale. We wish the new business all the best for the future.”
WRI was advised on the deal by solicitors Macdonald Henderson.