Smallbone, the Wiltshire-based luxury kitchen manufacturer, collapsed into administration yesterday and was immediately bought out by a technology entrepreneur in the latest of a long line of pre-pack administrations in the retail sector.

PricewaterhouseCoopers was appointed administrator to the struggling kitchen company yesterday morning, only for the company’s trading operations to be bought by Leo Caplan, owner of the Morgan Brookes office technology company.

The acquisition will safeguard 400 jobs. It also protects the deposits placed by Smallbone customers prior to the retailer going into administration.

Daily Telegraph