From the administrators' statement

• The Company’s financial performance has deteriorated since late-2018, following a reduction in turnover in both divisions. As a result, losses were incurred in the Mattress and Bed Division and while the Foam Conversion Division was marginally profitable, it was unable to support the losses of the larger Mattress and Bed Division.

« The Company's lending facilities were refinanced in December 2019 but the Company continued to perform below budgeted level causing a restriction on its working capital facilities. This led to the Company seeking investment in the Company and/or divestment of the Mattress and Bed Division and subsequently undertaking an accelerated sale process of the Company’s business and assets.

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Breasley Pillows Limited(The) (01294330)

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