Private equity-backed glazing firm calls in administrators
A private equity-backed Leicestershire manufacturer and installer of windows, doors and conservatories has collapsed into administration.
Coalville Glass and Glazing called in administrators from Opus Restructuring on October 12 after posting posted a notice of appointment to appoint administrators on the same day. The notice has been posted by Optimum SME Finance, which holds a charge over the company.
There has been a spate of director resignations at Coalville Glass and Glazing over recent weeks, with five people stepping down in the space of two weeks at the end of September and the beginning of October.
The family firm was set up 45 years ago by Ray and Beryl Whitehorn over 45 years ago. A statement its website reads: “Please note our trade counter is temporarily closed for the foreseeable future. There is no re-opening date currently scheduled. We apologise for any inconvenience this may cause.”
In its latest accounts, made up to the end of June 2022, Coalville Glass and Glazing employed 75 people.
Last year, the firm was bought by private equity group Opulentia Capital. At the time, Paul Seabridge, CEO at Opulentia, said: “We’re delighted to have the opportunity to build upon what the Whitehorn family and their team have created and look forward to watching them grow. We’re looking forward to making further acquisitions in this sector in the future.”