Liverpool glass company secures jobs

TWO former directors of failed Liverpool company Greenberg Glass have bought its assets for £400,000.

GG Glass & Glazing was set up in February 2008 by Dennis Worrall and George Ireland who both resigned from their former positions two years ago.
 
Assets bought from Greenberg, which went into administration last October, include two factories and the former head office in William Moult Street, Liverpool.

Around 50 Greenberg staff have been taken on including three senior executives – Sam Grant, John Grant and Richard Thomas who join as directors.
 
GG Glass acted as a middleman for suppliers and contractors but after taking on the assets of Greenberg Glass has now undergone significant expansion. 

The company said it had a turnover of £1m in the past two months alone it is projecting a turnover of £4m for the year. GG Glass now employs a total of 60 staff and expects to take on 10 more in the near future.
 
Alliance Fund Managers invested £250,000 through the MSIF Mezzanine Fund together with £100,000 from HSBC and £50,000 from the directors. 
 
Finance director Mr Ireland said: “Dennis and I spent a combined 60 years at Greenberg Glass and had strong ties with the business and many of its employees.

“Greenbergs had a longstanding history in Liverpool and the chance to buy its assets to expand our business is a great opportunity. We are also pleased to be able to take on some staff whose jobs would otherwise have been lost.”