Domus Tiles Saved by Management Buyout After Collapse
Domus Tiles Limited avoided total closure through a pre-pack sale to its management team after its parent company, Headlam Group, entered administration.
Premium flooring supplier Domus Tiles Limited collapsed into administration on October 27 following the September administration of its parent company, Headlam Group. The company had previously supplied materials for major projects including Wembley Stadium and the US Embassy in London.
To preserve the business, joint administrators from Interpath executed a pre-pack deal that sold the company's assets and business to Domus Group London Limited. This new entity is owned and led by the existing management team, a move that saved all 112 jobs at the firm.
In a related transaction, another Headlam subsidiary, Melrose Interiors Limited, was sold to the Jain family group. While the sale secured 35 jobs, 19 redundancies occurred within the Melrose Spectrum business unit because it was excluded from the acquisition.
