Thu, 05 Oct 2023 | ADMINISTRATION
UK Windows and Doors, a window manufacturer with facilities in England and Wales, has fallen into administration. Administrators from Teneo have sold the majority of the company’s “sevenday” trade counter branches nationwide.
These branches will continue to trade as usual, preserving 91 jobs, but close to 500 roles will be lost elsewhere, at branches in Treorchy, Llwynypia, Williamstown and Taff's Well, all in Rhondda. A further 67, meanwhile, are set to be lost at sites in Tewkesbury, Gloucestershire, and Biggleswade, Bedfordshire.
In a statement, Rhondda MP Sir Chris Bryant, Buffy Williams MS and Rhondda Cynon Taf council leader, councillor Andrew Morgan said: "Our ambition is to find other potential buyers for the important facilities to try and retain as many of these jobs are possible. It is important that while this remains our ambition, alternative means of support are available to employees and the company."
According to administrators, the company lost a major customer in 2022, subsequently implementing a turnaround plan, supported by additional lending facilities. The plan included a cost reduction programme, the closure of a Tewkesbury extrusion operation and moving to a third-party extrusion supplier, as well as the renationalisation of manufacturing facilities.
Additional funding was injected by the existing owners as directors explored options to save the business, including running a sale process for the manufacturing business and raising additional funding from Welsh government agencies. However, these efforts proved unsuccessful, leading to the appointment of Richard Hawes and Matt Roe of Teneo Financial Advisory Ltd as joint administrators on 2 October.
In a statement, the joint administrators said: "Recent economic uncertainty due to high consumer price inflation, rising interest costs and the associated reduction in consumer confidence has led to house builders slowing down their build programmes and retail window companies experiencing a fall in demand as homeowners delay discretionary spending on the refurbishment of their properties.”
"This has resulted in a further large reduction in demand for the company’s products, leading to losses and associated funding requirements at an unsustainable level."
Find out how businesses are being impacted by rising distress in the construction sector
Established in 2013, the business specialises in manufacturing and supplying timber garden products – specifically, gates, trellises and fence panels. Currently based in the West Midlands, the family-run business prides itself on producing the highes...
The Business was established in 1996, our client offers creative metalwork solutions to a wide range of customers, including some blue-chip organisations. Delivering design, manufacture and installation to its customer base, our client has developed...
Opportunity to acquire the business and assets of a metal decorating business, established in 1979, the company is one of the largest in Europe.
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.