Everest double glazing rescue deal saves 1,000 UK employments

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The windows firm, situated in Cuffley in Hertfordshire, dove into emergency in March when the lockdown made it impossible for staff to make sales and installation visits to clients' homes.

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Everest has been sold back to its private equity proprietor Better Capital by means of an insolvency methodology known as a "pre-pack" organization. In any case, the organization said 188 redundancies were being made over the business.

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Alistair Massey, an accomplice at FRP, the advisory firm that took care of the deal, said Everest was a "famous British brand" with a lucky market position in its specialist field.

"Notwithstanding incredibly challenging trading conditions in recent months, the business required rebuilding to guarantee a sustainable future," he said. "This deal makes sure about a significant number of employments and individual jobs for some affiliated jobs."

Everest works with around 600 self-employed fitters.

The deal will include the transfer of 413 full-day occupations in manufacturing and sales to new trading organization Everest 2020 which has taken over the order book. Better Capital is putting £3.2m in the new vehicle.

Everest has made losses for quite a long while, with the last set of records documented at Companies House indicating a £9.3m loss on sales of £105m for 2018. The organization has 18 distribution centers as well as two industries: in Sittingbourne, Kent, and Treherbert, Wales.


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