Thu, 21 Nov 2019 | ADMINISTRATION
A buyer is being sought for Pro-Fix Installations after the company was placed into administration.
Linda Farish and Chris Ferguson, Joint Heads of Recovery and Insolvency at RMT Accountants and Business Advisors, have been appointed as administrators for the Team Valley-based contracting business.
Pro-Fix Installations is an accredited company and specialises in the installations of windows and doors for new build homes. It offers a wide range of products and installation services and serves areas across the North East of England, including Tyne & Wear, Northumberland, Durham and Teesside.
The company has several large housing developers among its clients and, for the time being, is continuing to trade as a going concern in administration. It has secured an order book of around £6 million for 2020.
RMT’s Linda Farish said: "Pro-Fix has a long and successful track record, and despite its current financial difficulties, has every chance of trading successfully once again in the future under new ownership.”
"We’ve already had initial contact with a number of potential interested parties and we are working to resolve the situation as quickly as we can."
"We’ve also been speaking to Pro-Fix’s customers about fulfilling future orders whilst the business is marketed for sale."
The company currently employs around 30 people and saw a turnover of £5.7 million in its last financial year. Its major clients include Bellway, Barratt Homes and Storey Homes.
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