Wed, 11 Aug 2010 | ADMINISTRATION
Domestic lighting firm Associated Lighting Group has been placed into administration after a botched attempt to integrate with another business.
The group was formed when Leeds-based Ring purchased Salford-based Trident in September 2009.
At the time of the merger, new chief executive David Gutfreund, former chief executive chairman of Trident, spoke of his aims to acquire other smaller rivals with revenues of up to around £10m.
Charles King and Hunter Kelly of Ernest & Young have been brought in as the administrators.
Mr King explained the business’s situation: “Management has been working hard to integrate both businesses, but surplus stock, pressure from creditors and difficult market conditions earlier in the year have ultimately led to our appointment. We intend to continue to trade the business whilst seeking a buyer.”
Several employees have been made redundant - 33 out of 94 staff at Ring and 25 out of a total of 29 staff at Trident.
ALG supplies interior and exterior lighting, as well as light bulbs to many DIY, supermarket and high street shops. Customers include B&Q, Tesco, Argos and Homebase.
This partnership, which was established in the 1980s, is available for sale due to the retirement. The partners would be available to assist in the transition period to ensure a smooth handover of clients.
This practice, which was established over 25 years, is available for sale due to the retirement. The vendors would be available to assist in the transition period to ensure a smooth handover of clients.
This practice, which was established over 30 years, is available for sale. The vendors would be available to assist in the transition period to ensure a smooth handover of clients.
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