An established window manufacturing firm in Bristol has entered administration amid inflated costs and delays to key projects. Audit, tax, and advisory firm Mazars said it had been appointed joint administrator for The Window Glass Company (Bristol) Ltd, trading as Window Glass, as of Tuesday.
Founded in 1970, Window Glass designs, makes and installs aluminium window systems and curtain walling for public and private sector buildings, including schools, supermarkets and hospitals. The family-run firm has carried out work on facilities for Thatchers Cider, supermarkets Sainsburys and Waitrose and the National Composite Centre in Bristol.
Mazars said Window Glass, which employees 31 people and operates out of a 55,000 sq ft factory in Brislington, had been impacted by the Covid-19 pandemic and Brexit over the past two years, resulting in losses. The administrator added that after Window Glass had stabilised its trading position by generating sales of around £3.4m, rising energy and raw material prices - combined with delays to key projects - resulted in the firm incurring further losses.
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Despite having a future order book of around £2m and a number of live contracts, Mazars said Window Glass faced an immediate cashflow requirement that could not be met, with bosses left with no option but to enter the company into administration.
A buyer is being sought for all or part of Window Glass' business and assets, whilst the viability of continuing to complete certain key projects is assessed.
Mark Boughey of Mazars LLP said: “We are sorry to see such a long established South West family owned business like The Window Glass Company (Bristol) Ltd fail as a result of the legacy impact of the Covid-19 pandemic, inflationary pressures on costs and project delays, that were all largely outside of their control.”
“The director had to make the difficult decision to enter administration to prevent the position for creditors worsening. We are currently assessing the situation, reviewing the status of ongoing contracts and seeking a buyer for all or part of the company’s business and assets. Interested parties are asked to contact Mark Boughey or Nick Clarke at Mazars.”
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