Curtain chain sold out of administration (From Hampshire Chronicle)

Curtain chain sold out of administration

7:00am Friday 21st September 2012 in Hampshire Business By Matt Smith, Politics and business reporter

A well-known curtain and soft furnishings retail chain based in Christchurch with branches across Hampshire has been sold out of administration.

Administrators Begbies Traynor have sold the Mostyns, which operates 35 stores throughout the UK including shops in Southampton and Chandler’s Ford , to WCDI Limited.

Mostyns, which has an annual turnover of £7m, has been trading since 1950 and employs 128 staff across its retail outlets as well as 59 employees at its head office and manufacturing operation in Christchurch. Most of the jobs have been secured.

Administrator Julie Palmer said: “Mostyns is a very well-known business with a good reputation not just as an excellent local employer in the Christchurch area but for its stores in high streets up and down the country.

"We are delighted that the business has been sold as a going concern, safeguarding the vast majority of jobs.”

Mostyns was placed into administration after several years of difficult trading conditions.

Steve Lane of WCDI said: “Mostyns has an excellent reputation for quality products manufactured in  Dorset. 

"WCDI are delighted to have purchased such a well-known brand both locally and nationally in a deal that now enables investment into the business and a brighter future.”