Wed, 11 Jan 2012 | ADMINISTRATION
The future of glass building maker Apropos Tectonic and 63 jobs have been secured, having been bought in a pre-pack administration deal.
The Ashton-under-Lyne-based firm was pulled under by a failed new business venture, and had also been loss making itself for some months. It set up Atelier Modular to create and sell garden studios, but did not make profits despite investment from Apropos.
Apropos Tectonic’s assets have now been purchased by managing director Michael Barnes through his newly formed company Apropos Vitral.
Mr Barnes told MEN Business: “Over the last two years Apropos has invested heavily in research and development for Atelier Modular. Unfortunately, despite receiving widespread critical acclaim, Atelier failed to repay this investment and went into receivership at the end of November.
“This left Apropos with a financial burden that it was unable to sustain.”
Duff & Phelps were brought in to lead the administration process in December for Apropos, leading to the loss of 17 jobs.
The new firm Apropos Vitral aims to use the some of the innovations previously accomplished at Atelier in its product range.
Apropos Tectonic was set up ten years ago as a subsidiary of Hartley Botanic Group, and was bought in a management buy-out by Mr Barnes in 2009.
Previous story - Apropos Tectonic collapses into administration
An opportunity to acquire a reputable IT services company based along the M4 corridor with over 20 years of trading experience. The company has built and maintained a thriving, long-standing client base of businesses across a variety of sectors.
An established commercial and domestic fencing contractor. Specialising in the manufacture, supply and installation of timber and metal fencing, gates and perimeter products.
The business is a turnkey operation with bespoke operating systems, this is achieved by the experienced and technical staff base that run the business day to day.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.