Locks and Security News: your weekly locks and security industry newsletter
15th May 2019 Issue no. 457
Your industry news - first
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Basta locks brand bought out of examinership
As reported by the Irish Times, a group of building industry players, including the daughter of former developer Liam Maye, has bought the Basta locks and ironmongery brand out of examinership.
Basta, which went into examinership in July, employed 48 people. It was based in Sligo where it was founded more than 60 years ago.
Desand, an Irish company, has acquired the brand, its goodwill and the company's stock but is not acquiring the business, or its staff. It said it would continue to trade as Basta "as this continues to be one of the strongest brands in the sector for over 60 years".
"We believe that this company can become the leading supplier of locks and accessories to the construction and hardware sectors again," said David Farrell, who will take over as managing director of the business.
9th January 2019