Aggregates supplier and manufacturer rescued from administration

Stoke-on-Trent-based Prestige Aggregates Holdings, a newly-formed aggregates supplier and manufacturer, has rescued Prestige Aggregates out of administration.

Controlled by Jonathan Prutton and Philip Horsnall, Prestige Aggregates Holdings was established in January. The pair have extensive experience of the construction and materials sector via their ownership of Moorhead Excavations in Leeds and East Midlands Demolition in Derby.

Sheffield-based Prestige Aggregates initially filed a notice of intention to appoint an administrator on 10 February, followed by further notices on 21 February and 6 March, with Derby-based PK Cooper Smith handling the administration process and Dean Nelson acting as a joint administrator.

The struggling firm faced financial difficulties after expanding heavily into the waste glass recycling sector, which collapsed between July and December last year. According to its latest accounts, the company had 16 employees.

Prestige Aggregates supplies a range of primary and sustainable recycled aggregates, specialising in using recycled glass from waste packaging in the construction sector.

It has also developed relationships with suppliers to design concrete mixes incorporating recycled glass and concrete aggregates, with plans to include waste plastic in the near future.

Dean Nelson, joint administrator of PKF Smith Cooper said: “I am pleased that a sale as a going concern could be achieved, saving a well-known business and preserving the jobs of its employees. I was ably assisted in the transaction by Emma Taylor of Browne Jacobson in Nottingham.”