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Jobs saved at Kidderminster-based windows firm
12:41pm Tuesday 31st July 2012 in Business Daily
EIGHT jobs have been saved at a Kidderminster-based windows firm that went into administration, after a sale was secured for the business.
Insolvency practitioners SFP has completed the sale of 5 Star Windows and Conservatories, in Stanklyn Lane, which had cashflow problems.
Daniel and Simon Plant, of SFP, were appointed joint administrators on Tuesday last week.
Daniel said: “It was unfortunate that 5 Star Windows and Conservatories Limited struggled due to a lack of cashflow at a critical time. However, we managed to secure a sale of the business as a going concern, ensuring the preservation of jobs and continuity of supply for its customer base.”
He said it was the third case of a glazing firm that SFP had been appointed to handle this year, adding “difficulties being experienced in the construction sector have had a direct impact on home improvement firms”:
He explained: “The downturn in the economy has caused a knock on effect to house building and home improvements, and especially the installation of new windows as we have found with the administration of three glazing firms already this year."