Administrators appointed to Birkenhead glazing company

Paul Dumbell and David Costley-Wood from KPMG’s restructuring practice were appointed joint administrators to Anaco Systems, on 27 July 2018.

Based in Birkenhead and employing 34 people, the company designs, manufactures and installs aluminium glazed building facades.

Paul Dumbell, director at KPMG and joint administrator, said: “The company had experienced declining gross profit margins and issues with historic customer account settlement delays.

“The situation was further exacerbated by recent unexpected delays in material interim account payments.

“This, in turn, had a significant impact on cash flow and the company’s ability to continue to trade.

“After searching unsuccessfully for a buyer of the business, the directors took the difficult decision to appoint the joint administrators.

“In the absence of a going concern buyer coming forward, we will now commence an orderly wind down of the business.”

Immediately following the appointment of the joint administrators, operations on site ceased, and 32 members of staff have been made redundant.

The joint administrators have retained a skeleton staff on site to assist with the wind down process.