Everest entered into administration

The news broke last week that Everest had been entered into administration – confirming speculation that the firm was in trouble – with reports that around 350 jobs are at risk.

The administration process is being handled by ReSolve, which is attempting to find a new buyer.

Everest, which was previously rescued by a pre-pack administration in 2020 (prompting a name change to Everest 2020) is of course not the first big name industry brand to hit the headlines in recent months, following Safestyle’s administration in October last year, and a rush of smaller fabricators and installers folding in the first quarter of 2024.

Safestyle’s order book, brand and assets were ultimately rescued by Anglian Home Improvements in November – so the question will be, is there another knight in shining armour poised to give Everest a fresh lease of life? Will we see the birth of ‘Everest 2024’?

In the meantime, there is some more positive news in this week’s newsletter from both Russell Yates, MD of Aluk, and Ryan Johnson, Group MD at Emplas.

Russell, who acknowledges that it’s been a difficult start to the year for the sector – and made worse by the weather as it has held back installation work – says that the industry should do all it can to avoid the race to the bottom on price, and points out that AluK is now well placed to help customers ‘whatever the future economic and weather conditions turn out to be’.

Ryan also admits that it’s been a tough start to 2024, but asks whether we could be about to see an upturn thanks to strong house prices and a return to growth in the construction sector.

And again, he highlights how Emplas is well prepared to support customers, thanks to significant investment in operations, new machinery and service.

What are your thoughts on the year ahead? Email me at luke@glasstimes.co.uk