A roofing contractor headquartered in Greater Manchester is expected to collapse, with hundreds of jobs at risk.
Restructuring firm Begbies Traynor is working with Heywood-based Avonside Group while a formal announcement is set for tomorrow (Wednesday, September 7).
The group is backed by NatWest, employs 450 people full-time and a further 1,200 contract labourers.
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It is understood that Begbies Traynor had been seeking to complete a takeover of Avonside last week, Sky News is reporting.
Avonside also installs plumbing, heating and solar power on behalf of housebuilders such as Taylor Wimpey.
Its biggest shareholder Tony Burke, its executive chairman, stepped down as a director towards the end of August, according to documents filed with Companies House.
Core Capital, which has held a stake in the company since 2017, Avonside and NatWest were unavailable for comment. Begbies Traynor declined to comment.
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