Thu, 18 Feb 2016 | ADMINISTRATION
A glass manufacturer and supplier based in Lisburn, County Antrim, has been placed into administration, with pressure from creditors cited as the main reason for the collapse of the company.
Lisburn Glass Group Limited, which has been in business for more than 40 years from a factory at the Blaris Industrial Estate, Altona Road, has made all 30 staff redundant and ceased trading.
Gareth Latimer and Stephen Tennant of Grant Thornton have been appointed as joint administrators of the distressed business.
Mr Latimer said: “The business has ceased trading and all employees have been made redundant.
“We have been working with the directors since the start of the year and reviewed the options available, but creditor pressure has increased, leaving the directors with no alternative but to seek the protection of an administration appointment.”
The joint administrators will now “carry out a sales process in order to maximise value for creditors”.
Lisburn Glass Group Ltd, which was established in 1971, “developed national reputation in the industrial and commercial glazing market,” according to its website.
Until it ceased trading, the Northern Ireland glass manufacturer was “involved in major contracts throughout the UK and Ireland” and was supplying products from its 40,000 sq ft factory.
View the latest UK businesses in administration.
The company offers a well-regarded own brand of hair care products focusing on hair growth and repair, featuring premium formulas that are natural, vegan, and cruelty-free. With a strong global presence and prestigious industry awards, the business h...
This business offers a cutting-edge process safety management platform with proprietary software that ensures proactive safety measures for both onshore and offshore assets. With a strong foothold in the oil and gas sector and recent expansion into i...
This business offers a comprehensive range of road surfacing and civil engineering services, supported by significant investments in state-of-the-art equipment and a recently acquired operational site in Scotland to optimise efficiencies. With robust...
03
|
Jul
|
Energy services firm completes third acquisition | BUSINESS SALE
Energy services firm Earnz plc has completed its third acqui...
03
|
Jul
|
Newcastle life sciences firm falls into administration and ceases trading | ADMINISTRATION
AMLo Biosciences, a life sciences firm based in Newcastle, h...
03
|
Jul
|
Matthew Freud exploring possible sale of eponymous PR consultancy | BUSINESS SALE
Leading public relations executive Matthew Freud (pictured) ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.