More than 200 jobs have been saved after two Kidderminster companies threatened with receivership were bought out by their management.
Wyvern Furniture and its distribution company Earlybird Furniture were bought for an undisclosed seven-figure sum after the parent company, Christie Tyler, was put up for sale.
The buy-out was led by managing director Len Hughes, along with finance director Keith Williams, design director Richard Thatcher and operation and production director Simon Townsend.
Mr Hughes, who has headed Wyvern Furniture for the past 15 years, said the team hoped to continue trading under the same name and they were pleased to have secured the jobs of the 233 employees at the two factories.
Mr Hughes, aged 53, now hopes to continue a steady growth of firm which has a turnover of about £16 million.
On Tuesday, receivers Ernst & Young said Bridgend-based Christie Tyler was for sale after struggling in the face of international competition and weaker domestic retail trading.
The company employed about 2,000 people in Kidderminster, Scunthorpe and across Wales.
One of the joint administrative receivers, Mike Rollings, said they were hopeful the other businesses would be sold.