The two business divisions of Malbern Windows & Doors have been acquired from administration by Plastic Windows Systems and Lancashire Double Glazing.
The two business divisions of Malbern Windows & Doors have been acquired from administration by Plastic Windows Systems and Lancashire Double Glazing.
Malbern’s Manchester-based retail division was acquired by Plastic Windows Systems while its Lancashire-based trading division, CCG, was acquired by Lancashire Double Glazing, both for undisclosed sums.
Under the terms of the deal, the remaining 18 Malbern staff will be retained by Plastic Windows Systems, and outstanding retail jobs will be completed. Lancashire Double Glazing also retained the 53 staff from the CCG division. Both acquirers have the rights to trade under the respective trading names of the companies they bought.
Founded in 1983, Malbern is based in Greater Manchester and produces and installs windows and conservatories aimed at the domestic market across the North West.
Corporate restructuring firm MCR handled the administration, led by partners Sarah Bell and David Whitehouse.
Bell comments: ‘This is a very positive outcome for the business, its customers and its remaining employees. We are pleased with what has been achieved at the start of 2011 when trading conditions continue to be tough for many businesses.’
Manchester-based chartered surveyors Wignall Brownlow advised MCR on the deal.
