The manufacturer responsible for supplying cooking ranges to many of Britain’s fish and chip restaurants for over 100 years has been sold out of administration.
Cardiff-based Preston and Thomas Ltd entered administration in September 2013 following a decline in turnover, and was sold to Rangetek Ltd last month (December 2013).
David Hill and Steve Wade of Begbies Traynor were appointed as joint administrators to the company and managed the sale process.
Hill said: “After several months of talks with potential buyers, we managed to secure the sale of Preston and Thomas’ goodwill and intellectual property, along with some it plant and machinery.
“This will enable the trusted brand of Preston and Thomas to continue to play a major role in the nation’s culinary culture.”
Preston and Thomas has been responsible for the manufacture and supply of over 11,000 cooking ranges to fish and chip shops throughout the UK since the Second World War.
The company’s remaining plant and machinery was sold at auction, clearing the Preston and Thomas premises in Rumney, Cardiff.
Rangetek will undergo a rebranding to Preston and Thomas as part of the sale.
Martin Lewis, managing director of Rangetek, said: “With our two highly skilled teams in Surrey and Kent, this iconic name is in safe hands and we are confident of a bright future.
“We will be relaunching Preston and Thomas on 3 February and look forward to taking the brand forward and continuing its reputation for serving quality to fish and chip customers across Britain and beyond.”