Tue, 26 Mar 2024 | ADMINISTRATION
An architectural glazing specialist working on Everton FC’s new Bramley-Moore Dock stadium has fallen into administration. Alucraft Systems Limited, which is part of the Clarison Group, has appointed Helen Wheeler-Jones, Edward Williams and Peter Dickens of PwC as joint administrators.
The company was founded in 1975 and, last year, secured its biggest job to date, when it was hired to deliver curtain walling, composite cladding and aluminium rain-screen for Everton’s new stadium.
However, the Tamworth-based business said it had been unable to trade profitably for several years, in spite of “considerable investment”, and had suffered as a result of the UK’s “extremely challenging trading environment”.
After filing a Notice of Intention (NOI) to appoint administrators last week, the company said in a statement: “Sadly, the company has experienced an extremely challenging trading environment in the UK over the last few years and despite considerable investment has not been able trade profitably.”
In its most recent accounts at Companies House, for the year ending December 31 2022, the company reported turnover of £18.6 million, compared to £14.8 million a year previously, but saw its post-tax losses rise considerably from £1.8 million to nearly £6.1 million.
At the time, its net liabilities totalled £7.2 million. Fixed assets were valued at £313,742 and current assets at more than £5.5 million.
Despite the company’s collapse, a spokesperson said that the three other businesses comprising The Clarison Group - Alucraft Limited (Ireland), Williaam Cox Limited (Ireland) and EAG Limited (UK) - were all unaffected by the move and were continuing to trade profitably.
The spokesperson added: “While disappointing, the decision will ensure the rest of the group has the resources to continue to grow.”
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