Wed, 01 Feb 2012 | ADMINISTRATION
Administrators are searching for a buyer for shop fittings and display equipment manufacturer, Anglo ERI, after it collapsed yesterday.
The company, which is based in the Cambridgeshire town of St Neots, had a turnover of £28 million and counted high profile retailers including Arcadia, GAP and Next among its customers. It is part of the Estrella Group of companies, and it is understood that administrators have also been appointed to some other companies in the wider group, including Radius Interiors, CDM Displays Ltd and CDM Shopfitting.
Anglo is now in the control of administrators from the Cambridge office of Grant Thornton, with Ian Carr and David Dunckley keeping the business trading while they lead the search for a new buyer. Mr Carr said that the whole group had suffered under very challenging market conditions, making administration for Anglo ERI the only viable option.
“We are seeking the support of customers, suppliers and employees to enable trading to continue while a potential buyer is sought,” he said. “However, this is obviously a worrying time for all those involved with the business, especially the employees.”
Anglo ERI employs 120 permanent staff, but has a “significant” number of contractor workers.
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