Mattress machinery supplier MPT Group has been sold in a prepack deal after being placed into administration.

Rochelle Schofield and Mike Dillon, both of Leonard Curtis, were appointed as joint administrators of mattress machinery supplier to the mattress industry, MPT Group Limited on 14 April 2023.

The business had been trading successfully since 2009. However, a supply shortage of microchips required for its core range of machines prevented the company from being able to complete projects.

Equipment delays exceeded 18 months, and whilst the company made efforts to try and continue, the increase of external pressures saw a decision made to appoint administrators.

A sale of the company’s business and assets was completed to newco, under common ownership, MPT Group Mattress Machinery Ltd – with all jobs transferred under TUPE to the purchaser. MPT Group Mattress Machinery Ltd was incorporated during February 2023.

Rochelle Schofield commented: “The pre-packaged sale achieved represents the best outcome for the company’s creditors as a whole and has resulted in the successful transfer of all jobs to the new entity.”