The future now looks secure for the employees after Portland negotiated the sale of the business to Corrigenda Limited, who operate in the same industry, and was founded 11 years ago by Paul Spencer and Patrick Saddington.
Portland Director James Tickell commented; “It is now becoming an all too common trend that even businesses with linage that almost dates back to turn of the last century are finding it difficult to survive in the current climate. This can be through no fault of their own, as was the case with W Churches, but they have shown good business sense by calling in administrators before it was too late. In these unpredictable times, no one is immune from falling victim of credit lines, and identifying this issue early is critical.”
The new owners intend to keep the W Churches brand, and the management team will remain in place.