Member Article

Barnsley manufacturer bought out of administration saving 57 jobs

Barnsley-based window and door manufacturer Drowstan Ltd has been bought out of administration, saving 57 jobs and enabling the family business to continue trading.

It was placed in the hands of administrator Phil Booth of PR Booth & Co on 10 September 2014 and he immediately secured a sale of the business, including property, vehicles, stock and plant, to a new company, Euroglaze Ltd.

The sale has enabled the business to continue trading with all 57 jobs being transferred to the new company. PR Booth & Co was advised by Alice Pratt, partner at Leeds law firm Clarion.

Established in 1979, the £3.9 million turnover company which traded as ‘Euroglaze Systems’ manufactures uPVC doors and windows for the building trade.

Administrator Phil Booth commented: “Despite having traded for 35 years, the company faced problems as a result of the recent recession which has left the business struggling despite an upturn in market conditions over the past year, leaving the director with no alternative but to place it into administration.

“Working closely with Clarion, we were able to swiftly conclude a sale, rescuing the business and securing the jobs of the entire workforce.”

Alice Pratt of Clarion commented: “The administrator needed to act quickly to preserve the value of the business and we were happy to be able to expedite the sale process. It is good news that the business and its workforce now have a brighter future.”

The director of Drowstan Limited, Martin Nettleton, commented: “This means that Euroglaze will remain a trusted name in the industry for the future.”

Euroglaze Limited was advised by Asma Iqbal of Chadwick Lawrence.

This was posted in Bdaily's Members' News section by Clare Burnett .