Ian Wright and Scott Milne of WRI Associates were appointed Joint Administrators of Pride Shopfitting Limited on 29 September 2017.
The company operated from Cumbernauld and experienced difficulties when it was unable to secure payment of a significant debt from one of its customers.
Following the appointment of Joint Administrators, Pride’s trade and business assets were sold to Pride Commercial Interiors Ltd, a new company owned by one of the company’s main suppliers, Instock Disposables Ltd.
The deal safeguards 20 jobs and ensures continuity of service for customers. The new business will continue to trade from the existing premises.
Ian Wright, Managing Director at 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.’
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