EIGHTY-FOUR staff at Witney furniture maker Corndell were told on Monday that their jobs are safe after a takeover deal was agreed.
A new company, Corndell Furniture Quality Ltd, was set up to rescue the company after it went into administration three weeks ago.
Backed by two of its biggest suppliers, the company will trade from the same premises in Windrush Park Road.
Corndell, which supplies 700 furniture stores around the UK, employed 115 staff before the administrators were called in.
They made 31 staff redundant while trying to find a buyer for the company.
James Rossiter, a spokesman for administrators FRP Advisory, would not put a figure on the rescue package but said it was “a considerable amount and more than enough to make sure the business remains on a firm financial footing”.
Steve Jackson, a director of Corndell Quality, said: “The past two weeks have been challenging, but thanks to our loyal staff and supportive retail partners we continue to trade as normal, fulfilling our strong order book.”
More than 30 inquiries about taking over the firm were received, with a dozen interested parties being sent detailed information, before the deal with Corndell Quality’s backers was concluded.