Britannia Living Limited, a Blackpool-based distributor of kitchen appliances, has been sold out of administration, saving 67 jobs.
Russell Cash and David Thornhill, partners at FRP Advisory, were appointed to the company on 26 September.
The joint administrators successfully sold the business to Glen Dimplex Home Appliances Limited (GDHA) shortly after appointment.
Cash, partner at FRP Advisory, said: “We are thrilled to have secured the future of this long-standing business and the employment of its entire staff.
“We wish the purchaser and everyone involved with the business continued success in the future.”
Britannia Living, established in 1995, specialises in the supply and distribution of range cookers to the UK bespoke kitchen market.
The company’s latest financial results, for the year ending 30 April 2012, show a fall in revenues from £10m in 2011 to £9.2m in 2012, with pre-tax profits down from £725,804 to £500,262.
Denver Hewlett, chief executive of GDHA, said: “We are delighted that we have acquired such a great brand with an impressive history and are confident we can support its future development.”
“This acquisition supports our long term strategy of developing and expanding GDHA’s presence in the premium appliance market.”