Existing Cases: 0161 837 1700 New Enquiries: 0800 063 9221

Triumph Furniture Enters Administration


Triumph Furniture Enters Administration

A well-known South Wales office furniture manufacturer has fallen into administration and ceased to trade, with the immediate loss of 239 jobs.

Triumph Furniture Limited, one of the UK’s leading office furniture manufacturers, with bases in Merthyr Tydfil and Dowlais, entered into administration on 8 October after being unable to reduce its operating costs following an unprecedented fall in sales in the course of the last 10 weeks.

Huw Powell, Katrina Orum and Paul Wood of business recovery firm, Begbies Traynor, have been appointed as joint administrators to manage the company’s affairs. Thirteen of the company’s employees are being retained in the short term to assist the administrators with their duties.

Established in 1946, the family-run business went on to supply a network of over 600 office furniture resellers and is a key supplier into central government. Triumph has been a major employer in Merthyr Tydfil, supporting some 252 jobs across its two sites.

Andrew Jackson, CEO of Triumph Furniture, comments:

“The family is devastated by this appalling outcome and are extremely concerned for the welfare of all Triumph employees and their families at this terrible time. The business has suffered a rapid and catastrophic collapse in orders since the middle of July, which has been impossible to recover from, despite every effort. Triumph has enjoyed incredible loyalty and support from the committed people of Merthyr and the surrounding valleys, which has been a key element of our success and longevity. All connected with the business over these years should be very proud of what has been achieved.”

Commenting on the news, Huw Powell, partner at Begbies Traynor in Cardiff, said:

 “It is especially sad to see such a prominent business fail when there are so many redundancies involved. We know this will be devastating news for those concerned.

“Attempts were made to secure major customer backing and additional funding to support a restructure or to sell the business as a going concern but due to the speed at which order levels reduced, these efforts ultimately proved unsuccessful before funding ran out. We are now working with all staff affected to help them access support from Careers Wales via the Welsh Government’s ReAct programme.”


About the author

Huw Powell

Partner, Cardiff and Swansea

Meet our Team of Experts

Huw is a chartered certified accountant with more than 14 years' experience working with businesses that are experiencing financial difficulties.

His impressive network of contacts and relationships with key stakeholders - from lenders and creditors to turnaround specialists – is key in strengthening Begbies Traynor's presence in Wales.

76 Regional UK Offices

Find your local Begbies Traynor office and speak to an adviser today.

Find your Local Office
0800 063 9221

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
0800 464 0871

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
0161 837 1700

Call our Confidential Advice Line. Calls to this number are free of charge.

Call us now...
Request a Meeting

We invite you to come and discuss your enquiry with us at your convenience.

Request a meeting...
BTG Advisory accelerates growth with appointment of four new partners to its London office
BTG Advisory, the boutique advisory arm of Begbies Traynor Group announces the appointment of four new partners to its Canary Wharf office
Read More →
 
Eighty jobs saved with £1m sale of engineering business
South Yorkshire company Newburgh Precision rescued through administration
Sale enables 75-year-old business to continue trading
Read More →
 
Join thousands of professionals by signing up for our updates
Analysis and Opinion from our Partners
Top Industry News
Register Now →
 

Advice you can trust

We are accredited by the following industry leading organisations

Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland

Contact the Begbies Traynor team

or Find your Nearest Office

Here at Begbies Traynor Group we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. We will not use your information for marketing purposes. See PRIVACY POLICY

Processing...