Administrators appointed at Frame 1

ADMINISTRATORS have been appointed at door and window frame maker Frame 1.

The move follows the decision by the firm to temporarily suspend its shares on the Alternative Investment Market pending clarification of its financial position.

In a brief statement the business said administrators had been appointed by one of the company’s creditors.

Frame 1, formerly Crystalband, was incorporated in September 2004 to acquire the business and assets of BHD Flint, a manufacturer of PVC windows and doors. BHD was a subsidiary of BHD Group which had been in administrative receivership.

It was manufacturing more than 1,000 frames a week which it sold to the trade market in the North West and nationally.

Its most recent figures for the six months to March 31 showed turnover had risen 6% to £2.9m. It made a pre-tax profit of £97,000 compared with a £239,000 loss in the previous year. The company achieved a higher gross margin of 8.4% which it said was down to greater efficiencies.