Tue, 05 Sep 2017 | ADMINISTRATION
A double glazing and conservatory installation business from Oadby has been placed into administration after experiencing "cash flow difficulties".
Energy & Security Limited had strong operations in Leicestershire where they delivered several hundred installations per year, but issues with revenue resulted in duress from a number of trade creditors.
Adam Spradbury, the managing director of EAS, said: “It is with sad regret that EAS Windows has been placed into administration.
“To all of our customers, thank you for your business over many years.”
To protect the interests of the current customer base, EAS Windows’ work in progress and ongoing order book was sold on the same day to JLD Windows, run by a former salesman of EAS. All 14 of the EAS's employees have lost their jobs.
JLD Windows owner Mr Patel was formerly a self-employed salesman for EAS. He said: “Having worked closely within the business for a number of years it seemed right to pick up the baton and work with the customers to present a solution, rather than allow the business to fall by the way side.
“I will be contacting customers over the coming days and weeks but should anyone have any questions or concerns I would be more than happy to speak with them with a view to resolving any issues.”
View businesses in administration here.
Subscribe to Business Sale Report here.
Well established and impressive children’s indoor activity centre. Prominent and accessible trading position, excellent reputation. Superbly presented throughout, 70 covers, car parking, retirement sale. The business has a thriving 100 cover café wit...
Highly impressive detached children’s day nursery (Reg 40 children). Sought after and accessible setting, truly enviable reputation, Ofsted rating ‘Good’. Superbly presented, potential living accommodation, viewing recommended. This is a rare and exc...
The nursery operates 7.30 am – 6.00pm, 50 weeks of the year. The nursery occupies the entire ground floor, along with extensive outdoor play areas and a garden. The main entrance is from the front via a secure door entry system, with secure entry sys...
Sign up to receive our acquisition alert emails to get your FREE guide
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