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Interest high as failed New Costessey firm Uniglaze puts its assets up for sale

Works at the Uniglaze factory, Forest Way were told of yet more job losses after the firm when into administration on Monday. Picture: Denise Bradley

Works at the Uniglaze factory, Forest Way were told of yet more job losses after the firm when into administration on Monday. Picture: Denise Bradley

Archant

The assets of glazing manufacturer Uniglaze, including a vast warehouse in New Costessey, have attracted high levels of interest, according to the firm’s administrators.

Chris Pole, director at KPMG and joint administrator, said they were in the process of speaking to every interested party which had expressed an interest for more details.

A total of 270 people have now lost their jobs after the troubled manufacturer called in administrators last Monday.

Fifteen staff remain on the site helping administrators.

Mr Pole said: “Although Uniglaze 2 has ceased trading, we have received a high number of expressions of interest in the assets of the business.

“We are now in the process of speaking to every interested party in more detail, considering which offers will most maximise the return to creditors.”

Uniglaze has struggled for a number of years in the wake of the severe downturn that has hit the UK construction sector and wider economy. Its cashflow was hit by a recent further decline in turnover and the insolvency of key customer Norfolk Frames. Its Spar Road site is also among the assets for sale.

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5 comments

  • What do you expect with their "I'm alright Jack" attitude !.

    Report this comment

    "V"

    Wednesday, October 24, 2012

  • The vultures soon gather , while the workers sign on .And the administrators` plan their Xmas party , where they will toast the health of the coalition , whose policies are pushing so much work their way .

    Report this comment

    dragonfly

    Wednesday, October 24, 2012

  • I'm guessing an up and coming sealed unit company based in norwich might be one of the interested parties it would save them building a new factory when they could move into ready made premises for probably less money

    Report this comment

    david106

    Wednesday, October 24, 2012

  • Our political elite of all colours have been very quite since the loss of over 250 jobs.

    Report this comment

    nrg

    Wednesday, October 24, 2012

  • Its another nail in norfolks economy and perhaps a sign of the times.However this is an absolute perfect opportunity to attract a company like IKEA to norwich given the vast space and good road access. But i am sure the general public will not be allowed any say or opinion with who or what eventually takes the site, that will be in the hands of the political elite.

    Report this comment

    wickobi

    Wednesday, October 24, 2012

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