Interest high as failed New Costessey firm Uniglaze puts its assets up for sale
PUBLISHED: 07:42 24 October 2012 | UPDATED: 10:22 24 October 2012
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.