UK - Privet Capital and Paradigm back pre-pack of Lombok

The sale, which was run by administrators KPMG, will save 124 of 161 jobs at the company. Chief executive William Landale will remain in his position.

It has been reported that previous backer PI Partners has exited its stake in the company. UK-based Lombok has suffered as a result of the downturn in the housing market. For the year to 30 June 2008, its pre-tax profits plummeted by 63% to £232,065. The furniture chain is not alone in its plight, as just last week, Valco Capital Partners backed the pre-pack of flooring retailer Allied Carpets.

Lombok will continue to trade as normal and all existing orders will be fulfilled.

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• Buyouts
• UK / Ireland