Rectella Limited trading as Julian Charles Homes - Administration

Rectella Limited trading as Julian Charles Homes, a national luxury bedding and homewares retailer, has been rescued out of administration via a pre-pack deal, with 230 jobs saved.

The Manchester-headquartered company entered administration on 7 March after experiencing a number of economic headwinds which resulted in cash-flow difficulties and left the company unable to meet all its current liabilities.

The company cited a significant drop in turnover, increasing employment costs and an increasing tax burden as having a direct impact on its bottom line.

Immediately on their appointment, joint administrators Marco Piacquadio and Alan Coleman​ of FTS Recovery completed a sale of the company’s business and assets to Great Bedding Co, rescuing a total of 230 of 251 jobs across more than 25 trading sites and further concession sites.

The joint administrators were assisted by HCR Law (led by Hayley Phelps) and John Pye Auctioneers and Valuers (led by Gary Harper and his team).

Jacquard Capital has a registered charge against the company.