UK glass maker plunges into administration – in business since 1995 | UK | News

Since 1995, a manufacturer of sealed glass in North Yorkshire has gone bankrupt. A statement from the administrators, based in Scarborough, said the company’s business was facing cash flow difficulties due to significant downward pressure on prices and rising costs, which led to the appointment of administrators.

The company appointed Jamie Miller and Gareth Harris of RSM UK Restructuring Advisory as joint administrators on 18 June. A statement from the administrators said the company’s business was facing cash flow difficulties due to significant downward pressure on price and rising costs, which led to the appointment of administrators.

The statement continued: “Due to significant downward pressure on the price and rising costs, the business faced cash flow challenges which led to the appointment of administrators.

“Unfortunately the business has ceased trading and all 27 employees have been made redundant.”

Jamie Miller added: “It is very sad that such a respected, well-established and historically successful business has had to cease trading.

“This is indicative of the current challenges in the commercial glass sector, which faces significant downward pressure on price alongside rising costs such as the National Minimum Wage, National Insurance and energy supply.

He continued: “An expedited, comprehensive sales process took place prior to our commencement, which, despite strong interest, did not result in any suitable offers to save the continuing operation of the business.

“However, we would welcome contact from any parties who may be interested in the company’s desired plant, machinery and other assets which are now to be sold.”

Jamie added: “Sadly all 27 employees at the company have been made redundant. We are now helping employees make claims and access their benefits.”