Quantuma's Chris Newell and Jo Leach were appointed as Joint Administrators of WFC Contractors Limited on 8 October 2024 and completed the sale of the business shortly thereafter to RW Group of Companies, a group with experience in the purchase and turnaround of distressed businesses. All 60 employees from WFC Contractors have transferred to the purchaser.
Devon-headquartered WFC Contractors provides high end interior fitout and refurbishment services on a national basis, specialising in the leisure and hospitality sectors. The business has a long track record of delivering main contractor and project management services for leisure industry brands, from one-off projects through to national rollouts. The business had recently experienced cashflow difficulties stemming from higher costs and tighter margins.
Group Chairman at Russell Taylor Group, Ben Russell commented:
“I’m delighted to provide continuation of 60 jobs and to welcome our new colleagues into our group. WFC Contractors is a great fit for our business, and we are excited to implement our plans with our new acquisition in place.”
Chris Newell, joint administrator and managing director at Quantuma, responded:
"The sale is a very positive outcome for a well-established and reputable business. I am very pleased that all employees' jobs have been saved and that the business will continue on its journey following this sale to a third-party buyer with the ability to take the business forwards.”