SafeGlaze placed into administration

SafeGlaze UK was placed into administration on Tuesday October 30, 2018, with 132 jobs lost across eight sites.

Director Phil O’Malley said: “The business grew far in excess of the management’s and stakeholders’ expectations and, more importantly, than our key suppliers could service. “Unfortunately, the level of financial support required increased significantly because of the company’s growth and the lack of constant supply from the main supplier of products.

“I would like to express my gratitude to the staff and our customers. I personally want to apologise to those suppliers adversely affected by the board of directors’ decision.” Lead administrator Rob Adamson of Armstrong Watson said: “We have been working with the management over the last few days following the decision by the owner and stakeholders not to increase their exposure beyond the current level, which is in excess of £11 million.

The inability to secure materials to facilitate minimum weekly sales levels has adversely affected the company’s cash flow and, because of the uncertainty, it was felt by the director that trading could not continue.”
The administrators are actively looking to dispose of the assets including the company’s order book.
“We are working with an employment specialist and Job Centre Plus to ensure that the employees are able to claim what is due to them as swiftly as possible from the Redundancy Payments Service,” Rob said.