WRI Associates secures 20 jobs as it sells Cumbernauld firm out of administration

Ian Wright and Scott Milne of WRI Associates, joint administrators of Cumbernauld shopfitting business Pride Shopfitting, have announced that they have secured a buyer for the firm, saving 20 jobs.

Pride had run into difficulties after one of its customers failed to pay a significant debt.

But one of its main suppliers has stepped in with a deal to buy the firm out of administration.

The deal will see the firm sold to Pride Commercial Interiors Ltd, a newly-formed company owned by Instock Disposables.

“We are pleased to have completed this transaction within a tight timeframe, as it ensures continuity for customers and safeguards local jobs,” Mr Wright said.

“We are particularly grateful to the business’s customers who supported the sale. We wish the new business all the best for the future.”

WRI were advised on the deal by solicitors Macdonald Henderson.