Successful sale of Dormeo mattress business by Mazars safeguards jobs
Mazars, the international audit, tax and advisory firm, has completed the sale of the business of Dormeo, the leading UK mattress company, to United T and C Limited.
Adam Harris and Patrick Lannagan of Mazars were appointed administrators of Dormeo UK Ltd on February 23.
The transaction helps safeguard all the 26 jobs at Dormeo and prevents a domino effect of over 200 job losses at separate companies that handled its logistics and sales.
Dormeo had a turnover of £41m in its most recently filed accounts.
Dormeo is one of Europe’s largest bed brands and its mattresses are seven-time winners of the ‘Which? Best Buy’ award.
Mazars understands that the new buyer of Dormeo intends to fulfil all outstanding orders and is contacting customers.
Law firm Edwin Coe acted as legal advisers on the administration and sale.
Adam Harris, Head of Restructuring of Mazars, says: “We are delighted to have been able to complete the sale of Dormeo as quickly as possible. The sale of Dormeo protects hundreds of jobs, ensures that customers don’t lose out and preserves the brand that Dormeo has built up over the last 20 years.”
“A quick sale has meant that customers, suppliers and staff have not had to go through a period of protracted uncertainty, something that we are always keen to avoid in administrations.”
“We are also very pleased that Dormeo has a new owner that is in a much better position to ensure the business thrives in the future.”
Adam Harris explains that Dormeo went into administration after its costs increased sharply against a backdrop of slowing consumer spending on bigger ticket items.