49 jobs lost as architectural products firm enters administration
Laidlaw, the Willenhall firm which has been trading since 1876, has been placed into administration
Administrators from Duff & Phelps have sold two parts of the company, However, the remaining part of the company could not be rescued and was closed with all staff being made redundant.
Laidlaw has been providing architectural products to the UK construction industry for over 140 years. The company employed around 61 people across four locations in the UK including Bristol, Gateshead, Sheffield and headquarted in Willenhall in the West Midlands.
The handrails and ballustrades part of the company has been sold to Komfort Partitioning, saving four jobs. The second deal saw UAP buy the locking systems, saving a further eight jobs.
Matthew Ingram, Joint Administrator, said: “Laidlaw experienced cash difficulties as a result of delays in key projects starting. Despite exploring many options to ensure the survival of the company, the continued drain on working capital resources ultimately left the directors with no option but to place the company into administration.
“Our objective was to identify a buyer for the company and its assets in order to provide continuity of service for customers, suppliers and employees. Naturally we are delighted that we were able to secure a future for two divisions of the business. We will continue to assist the employees impacted by the closure of the parts of the business that sadly could not be saved despite our best efforts.”
Steve Eyles, operations director of Komfort, said: “We are pleased to have been able to put together an offer for the HRB division of Laidlaw and are excited about the team joining the Komfort business – it is well suited to our expertise and focus, we believe it has great prospects going forward.”
David Jennings, chief executive of UAP, said: “The acquisition of Locking Systems is an excellent addition to the UAP Group. We were immensely impressed with the professionalism of Duff and Phelps throughout the whole process, which has ultimately led to the saving of Locking Systems and the continued employment of all the employees at this division.”
