County Antrim glass manufacturer shuts its doors

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.


Share this article



Latest Businesses for Sale

Designer & Manufacturer of Consumer Entertainment Robotics (Fast Sale)
UK Wide

Expressions of interest for the business and assets are required by 5pm on 24th July 2019 with bids anticipated shortly thereafter. An opportunity exists to acquire the shares or alternatively the business and assets of this UK based, innovative comp...

Asking Price: Offers Invited
Turnover: £5m+

Manufacturer of Precision Instrumentation Products
UK Wide

*Trade Enquiries Only*. A leading UK designer, manufacturer and global distributor of critical components in specified compression fittings with a crucial safety function. Offers invited.

Asking Price: Offers Invited
Turnover: £1,900,000

Manufacturer of Nets
South West, UK

Manufacturer of Nets for everything except fishing. More than 130 years of continuous trading. The Company was founded in 1889 and is a very well established manufacturing business and has been a pioneer in the industry and consistently & successfull...

Asking Price: £450,000
Turnover: £522,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Jul
 

Outdoor activity centre completes MBO | BUSINESS SALE

An outdoor water activity centre has been successfully sold ...

 
18
 
Jul
 
 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources