The assets and intellectual property of The Foam Company have been sold, ending its hopes of continuing to trade.
Mattress and foam producer GNG has bought the assets and intellectual property of The Foam Company.
TFC went into administration after Mammoth moved production to Airsprung Beds.
GNG intends to move TFC’s manufacturing equipment to its West Yorkshire factories and says the Sleepshaper and Sonlevo brands ‘are a good fit’.
TFC had anticipated a pre-pack administration sale that would have allowed it to continue trading.
‘It is extremely sad to see the demise of such a long-established successful family business. Unfortunately, after the loss of the licence for its major brand, the business was no longer viable as a going concern. We hope to reach out and try to work with some of The Foam Company team in the future,’ says Darren Potterton, GNG Group md.
‘We will be integrating the assets within our operations: The Foam Company’s brands are a good fit with our existing range, and the machinery will be relocated to the West Yorkshire manufacturing facilities of our expanding mattress division, supporting our ambitions to we continue to build the business.’
