A new company, Sharps Bedrooms Ltd, has acquired troubled Homeform Group’s Sharps Bedrooms division.
The deal, which comes as the rest of the Homeform Group was due to go into administration, secures the jobs of 627 workers at Sharp’s Bilston factory, though it leaves question marks over the position of suppliers owed money prior to the acquisition.
The Homeform group confirmed to TTJ that the funding for the acquisition was provided by Homeform owner Sun Capital.
“It is 100% business as usual for Sharps,” said Sharps managing director Kevin Smith.
“This is and always has been a successful and market-leading business and we look forward to developing it further to make Sharps even better.”
Hundreds of other jobs are still threatened in the rest of Manchester-based Homeform, which includes Kitchens Direct, Moben Kitchens and Dolphin Bathrooms.
Directors originally filed a notice of intention to appoint an administrator on June 23, with the process taking up to 10 working days. An announcement is expected today.
