Furniture company faces sale

PricewaterhouseCoopers will sell the factory

Flat-pack furniture maker Home-PAC has been placed in administration, it was announced on Tuesday.

Administrator PricewaterhouseCoopers (PwC) aims to sell the business based in St Albans, Hertfordshire, and protect the company's 300 staff.

Home-PAC, which was founded in 1983, makes and supplies flat-pack furniture to multiple retailers and catalogue companies.

Michael Jervis at PwC said: "Home-PAC's problems stem from its recent losses and lack of working capital.

"Administration provides the opportunity for a sale of the business and the protection of up to 300 jobs."

The company generated turnover last year of more than £30m.

Administrators are continuing to trade with a view to selling the business and assets as a going concern.