Octaveward in Lancashire goes into administration

Specialist window and door manufacturers, Octaveward, based in Darwen, Lancashire, went into administration yesterday, with the loss of 65 jobs.

Zolfo Cooper Europe has been appointed as administrators and confirmed the staff redundancies, adding that they were endeavouring to "trade the company on a scaled down basis." They added that six further staff have been stood down from their duties.

The administrators announced that Octaveward had "endured a period of difficult trading conditions, exacerbated by the ongoing affect of the recent recession on Britain's construction industry'.

However Graham Wild at Zolfo Cooper also added: "This company has been part of the Darwen community for more than 25 years and has established itself as a quality supplier of its products to many local authorities, housing associations and public sector bodies. We believe the business represents a good opportunity for a investor looking to grow their business, as the construction sector begins to recover from the recent recession."

The management of Octaveward said that they were shocked at the turn of events as they had a full order book. As well as supplying various public sector bodies, the firm also has a few small commercial contracts.

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