Tue, 08 May 2012 | ADMINISTRATION
Less than two weeks after entering administration, Devon firm Launahurst Ltd has been rescued by Bristol-based Britannia Windows.
Windows, conservatories and door maker Launahurst, which is known as Launa Windows, lost 60 of its 70 of its staff to redundancy on the appointment of the administrators Begbies Traynor.
Britannia Windows has now purchased the company as a going concern from the administrators, including the properties and machinery. The new owner had been seeking to expand operations into Devon and Cornwall.
Set up in 1974, Launa Windows had failed due to a sharp drop in spend from its customers. The directors, despite recording a £5 million turnover for 2011, put it into administration last month.
“We are looking forward to driving Launa Windows forward and continuing to serve the South West of England,” Britannia Windows managing director Hayden Rushton told Insider Media. The staff at Launa have been outstanding in very difficult circumstances; we are committed to generating employment in the region and hope to create 40 jobs over the next month.”
Britannia also specialises in windows, doors and conservatories so the deal is a good fit for both companies. Established in 1980, it says it is the ‘largest and longest established manufacturer and installer in the area’ on its website.
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