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AH Beard saved from administration as fresh investment secures 200 jobs across Australia

AH Beard avoids administration as Softide invests, saving 200 jobs across Australia

Updated 1 min read

Published by Agyata NewsroomEditorial policyCorrections

Key points

  • AH Beard secured financial backing from Softide to avoid voluntary administration.
  • The agreement saves 200 jobs across six Australian states.
  • The company was founded in 1899 and produces up to 10,000 mattresses weekly.

Why it matters. This investment stabilizes a historic Australian manufacturer and prevents job losses in its six regional facilities while securing its future production capacity.

Updated Sources: Thewest, Wikipedia: Beard, Wikipedia: Australia

Australian mattress maker AH Beard avoided administration on Monday after Softide acquired a stake in the family business. The deal preserves 200 positions across six states, including facilities in NSW, Queensland, South Australia, Victoria, Tasmania, and Western Australia. CEO Matthew Beard described the investment as a vote of confidence that will fund further innovation for the manufacturer founded in 1899.

Latest updates

AH Beard saved from administration as fresh investment secures 200 jobs across Australia

After facing voluntary administration in April due to 127 years of operations, the family-run mattress company AH Beard secured a last-minute rescue deal. Smart bed brand Softide purchased a stake in the business on Monday, providing the necessary financial backing to prevent collapse. This investment has confirmed that 200 jobs across six Australian states will be retained. The company maintains manufacturing facilities and staff in Padstow, Geebung, Edwardstown, Derrimut, Glenorchy, and Kewdale. AH Beard chief executive Matthew Beard described the new partnership as a significant vote of confidence for Australian manufacturing.

ThewestWikipedia: BeardWikipedia: Australia

Sources

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