Summit 1977 Limited - Administration

Summit 1977 Limited, an almost 50-year-old South West furniture manufacturer, has been saved out of administration via a pre-pack sale to the Advanced Furniture group.

Summit 1977, which was founded in St Albans but ultimately relocated to Trowbridge, manufactures modular sofas, chairs, tables and meeting booths.

Neil Vinnicombe and Huw Powell of Begbies Traynor were appointed as joint administrators on 10 July. Shortly thereafter, the company’s business and assets were sold to Ebbw Vale-based Advanced Furniture group, saving 53 jobs.

The administrators were assisted by Ken MacLennan and the team at Clarke Wilmott (legal) and Eddisons (valuation and marketing). Jacob Sims, Owen James and the team at Berry Smith acted for Advanced Furniture.

Lloyds Bank Commercial Finance has a registered charge against the company.