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Macdonald Henderson Advises Administrators on Sale of Pride Shopfitting -  23rd October 2017 - Click for larger version Macdonald Henderson Advises Administrators on Sale of Pride Shopfitting - 23rd October 2017

Macdonald Henderson are pleased to have advised the Joint Administrators of Pride Shopfitting Limited (Ian Wright and Scott Milne of WRI Associates) in the sale of Pride’s trade and business assets to Pride Commercial Interiors Ltd, a new company owned by one of the company’s main suppliers, Instock Disposables Ltd.

The company operated from Cumbernauld and experienced difficulties when it was unable to secure payment of a significant debt from one of its customers.

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.’

This deal was a good example of how teams within Macdonald Henderson work together to deliver an objective, in this case, the corporate recovery team (led by Alan McKee and Michael Hankinson) procuring the appointment of the joint administrators, with the corporate team, led by Fraser Morrison negotiating and concluding the onward sale of the business and assets of the company and the smooth transfer of the employees.

We wish the new business and employees every success in the future.

Macdonald Henderson.

Last updated: 10.11am, Monday 23rd October 2017

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