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Homeform Group on brink of administration

THE company behind home improvements brands Dolphin Bathrooms, Sharps Bedrooms and Moben Kitchens, is planning to appoint administrators.

Manchester-based Homeform, which is owned by US private equity firm Sun Capital Partners, has been loss-making for several years.

Formerly known as Limelight Group, the company employs around 1,300 people.

A statement said: "The Board of Homeform Group Limited have today filed with the Court a Notice Of Intention to Appoint an Administrator.This process can take up to ten working days.

"At present, the Homeform Group remains under the control of its directors.The Directors are close to securing a deal that will safeguard the future of the Sharps (Bedrooms) and Kitchen Direct businesses and have mandated advisers to seek a sale of the Moben and Dolphin brands."

In the year to the end of March 2010 Homeform posted Ebitda of £955,000, compared with a loss of £3.4m in the previous year.

Turnover grew £3m to £151.2m, while at the bottom line, after depreciation, interest and restructuring costs the Old Trafford-based group made a loss of £6m, down from £12.3m in 2009.

Source : Chris Barry - The Business Desk.com
www.thebusinessdesk.com/northwest/news/183922-homeform-group-on-the-brink-of-administration.html

23 June 2011
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