Please visit https://www.companyrescue.co.uk/ for confidential help and insolvency advice or email keiths@ksagroup.co.uk

Tuesday, 15 February 2011

Auto Windscreens in administration

Auto Windscreens has gone into administration after it lost a major contract and a creditor served it a winding up petition.

Auto windscreens operates a network of 68 fitting centres across Britain, 550 mobile units, a distribution centre in Aston, Birmingham, and a central call centre. The firm employs over a 1000 staff. The business had a turnover of £63m

Matt Cowlishaw, of Deloitte, said: ‘We are now in urgent discussions with the key stakeholders and interested parties in an attempt to save the business.’

Simply the business ran out of cash. Lower revenues in the last quarter, a delayed IT system had caused problems but it was the winding up petition that forced it into administration.

We have blogged many times before that management must try, as a priority, to dissuade a creditor from serving a winding up petition. A winding up petition limits the options available to the company and if it is advertised the bank accounts of the business will be frozen.

If you are an employee of the company then look at our help for employees page outlining your rights and options.

If you have similar problems or are a supplier to Auto Windscreens please get in touch to see if you can avoid a similar fate..

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Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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