130 Jobs Saved After Fire Door Firm Is Bought Out Of Administration
Date:Oct 12, 2018
More than 130 jobs have been saved at a manufacturing firm after the business and assets were sold as a going concern.
Dean Watson and Gary Lee of insolvency experts Begbies Traynor were appointed as joint administrators of UK Fire Doors, a designer and manufacturer of performance doors, after the business ran into financial difficulty earlier this year.
The business was launched in 2013 in Mold and has operations in North Wales, East Midlands and Devon.
Recent projects include supplying and fitting fire and safety doors to the Royal Engineers at a former RAF base in the Falklands Islands as well as new-build property developments in the UK in the public and private sector.
All of the 130 jobs have now been secured after the business and assets of the company were sold in a pre-pack deal following the appointment of Begbies Traynor.
Dean Watson said: “We are delighted to have secured a future for the business and employees of UK Fire Doors.
“A number of factors contributed to the financial situation of the company and at one stage we feared that the business was going to cease trading. This would have resulted in the loss of many jobs.
“This was avoided after we identified a number of parties who were interested in continuing the business.