News

Administrators appointed to £12m turnover manufacturer in Stoke-on-Trent

  • Written By: Mark Gee
  • Published: Fri, 01 Sep 2017 13:27 GMT

Statement from the joint administrators

Administration Windows 1920

Andy McGill of Smith & Williamson and Ian Gould of Baldwins have been appointed joint administrators of Lister Trade Frames Limited on 29 August 2017.

The 40 year old family business is a well-respected manufacturer of high quality doors and windows. The business has an extensive customer base in the Midlands, supplying bespoke high-end products to the building trade.

The business had invested significantly in recent times on upgrades to plant & machinery, new stock lines and other business ventures. Unfortunately, the return on this investment did not materialise as quickly as the company would have hoped.

Regrettably, redundancies have had to be made following our appointment as joint administrators. However, our appointment has enabled us to give the former staff support in making claims to the National Insurance Fund, this will allow them some of the entitlements that the company can no longer provide.

“Lister Trade Frames Ltd has an excellent reputation in the market place and we are already engaged with a number of parties who have expressed interest in the business. We are optimistic that we will be able to find a solution and sell the business as a going concern,” said Andy.

“Our primary goal will be to secure a positive outcome for creditors and we will be working tirelessly over the next few weeks to accomplish this,” said Ian.

DISCLAIMER
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

Notes to editors
Smith & Williamson is a leading financial and professional services firm providing a comprehensive range of investment management, tax, financial advisory and accountancy services to private clients and their business interests. The firm’s c1,800 people operate from a network of 11 offices: London, Belfast, Birmingham, Bristol, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton. Smith & Williamson is part of The Tilney Smith & Williamson Group.

Cookie Settings