Altrincham buyers swoop for assets of failed firm
Joint administrators have sold certain assets of Aperture Trading to Altrincham buyers, for an undisclosed sum.
Chris Pole and Will Wright, who were appointed as joint administrators of Nottinghamshire company Aperture Trading Ltd on March 16, said they have sold certain assets of the company to Altrincham Doors Ltd and Altrincham Roofs Ltd.
The joint administrators, from the restructuring practice of KPMG, said the assets included in the sale relate to the Global, Celsius and Stratus roofing products.
They said that, while these businesses had ceased trading prior to the acquisition, the purchasers have indicated an intention to launch the Stratus product in the near future, as well as exploring the reintroduction of the other roofing systems at a later date.
Tim Bateson, restructuring director at KPMG, said: “Whilst we are continuing to market the remaining businesses and assets of the company, we’re delighted to have completed this sale, which will recover value for the company’s creditors.”
Around 330 jobs are likely to be lost at Aperture Trading after the joint administrators were unable to find a buyer for the business.
They laid off 121 staff following their appointment on March 16.
Having failed to find a buyer, they said that just a skeleton staff will be retained while they wind down the business.
Tim Bateston said on March 16: “Despite significant and ongoing restructuring of the business last year following its acquisition of Synseal Group’s assets, Aperture Trading has suffered from significant market headwinds, trading pressures and a decline in sales.
“Over the last few weeks, we have been exploring sale options for the company and, unfortunately, none of the interest received presented a viable solution.
“As a result, this led the directors to take the difficult decision of placing the company into administration.
“Our focus over the coming days and weeks will be to seek a buyer for the various elements of the business and to liaise with those employees who have been made redundant, ensuring they are provided with the support and information they need.”