Dagenham furniture firm completes first stage of management buyout
PUBLISHED: 10:00 13 September 2019 | UPDATED: 11:16 13 September 2019
An independent furniture company has completed the first stage of its management buyout.
Managers at Hunters The Furniture Company - which has its distribution hub in Hindman's Way, Dagenham - announced they had taken the first step towards acquiring the firm on Monday, September 9.
The business, which has an annual turnover of £37million and employs 50 staff, was advised by specialist business advisory firm FRP Advisory.
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Four long-standing employees, Stef Brennan, Norman Campbell, Lewis Harman and Rob Cannon, have been appointed as the new management team as founder Martin Playdell takes a step back from the business's day-to-day running.
Gary Thomas remains as managing director to assist during the transition period.
Adrian Alexander from FRP Advisory said: "Gary and Martin have played a vital role in making Hunters the successful business it is today. It is now ready for the baton to be passed to the new leadership team.
"We have no doubt the new management team has the experience, ambition and ethos to thrive."