A.H. Beard has entered voluntary administration after more than 125 years in business, in a move that has been described as a “sad day for the industry”
A century-old Australian family-owned mattress manufacturer has gone into voluntary administration in a development that has been labelled a “sad day for the industry”.
Administrators Peter Lucas and Damien Lau of P.A Lucas & Co have been appointed to manage proceedings at A.H. Beard, according to an official notice.
The news proved an emotional blow for workers, with reports that chairman Garry Beard was in tears while addressing staff at the company’s south-west Sydney site.
The collapse has been blamed on a combination of…