Thu, 28 Apr 2011 | ADMINISTRATION
Administrators have been appointed to Amdega, one of the oldest conservatory and greenhouse makers in the world, with the loss of nearly 200 employees.
The firm had 300 orders on its books worth £3 million in total. The customers could end up with a £10,000 hole in their pockets as they face losing their deposits. The administrators at KPMG said the customers' position was uncertain.
Joint administrator Mark Firmin commented, “Amdega is a victim of the severe downturn in the big-ticket and home-related parts of the retail sector… [and] was unable to sustain the ongoing weakness in demand it was experiencing.”
The administrators have said that a sale of the business is unlikely. There may well be assets available, however, that would be of interest to competitors.
Amdega was founded in 1874 in Darlington in the North East, and was purchased by turnaround specialist Endless in August last year.
Endless say they knew bringing Amdega back into profit would be a challenge. “Due to significant legacy issues we inherited, together with extremely difficult trading conditions, sadly, on this occasion, a rescue of the company has not been possible.”
Amdega had succeeded in returning to profit in 2009 after much cutting of costs. After losses of nearly £1 million in 2008, the firm made £74,000 for the year ending September 2009.
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