Buyer found for family-run windows firm
A buyer has been found for a windows manufacturer which went into administration – with around 40 of its workers set to be rehired.
Launahurst Ltd, which trades as Launa Windows, entered into administration with the loss of 72 jobs last week.
The family-run Newton Abbot business has been a regional household name for its doors, conservatories and windows for almost 40 years.
Joint administrators Ian Walker and Chris Norman, from Begbies Traynor, said they received interest from "a significant number of interested parties" before wrapping up a deal with LW South West Ltd, part of Bristol-based Britannia Windows.
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The firm, which has been seeking to expand into the far South West, has bought the goodwill and business assets of Launahurst.
Managing director Hayden Rushton said: "The staff at Launa have been outstanding in very difficult circumstances. We are committed to generating employment in the region and hope to create 40 jobs over the next month."
A handful of the remaining Launa staff will transfer across to Britannia, said Mr Walker.
"It's going to cause lots of jobs to come back because it's saving the brand and the name," he added.
"As far as I'm concerned, this is more of a reconstruction rather than an insolvency, which is good because the people running Launa were terribly honourable.
"All in all, it was a good decision by the directors to take the step to call us in – it was them and not the bank. They did that at the right time so that there was still a business to save and it could be turned around very quickly and it resulted in a quick sale.
"Hopefully, its customers will not have gone elsewhere."