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Leng Doesn't Linger - Whiff Still Pervades
The man who led two window companies to administration has not hung around - but the stink of the most recent pre-pack still sticks as David Leng quits...
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Going, Going, Gone - Aperture Closes For Good
Aperture, which went into administration on March 16, is not going to be saved by the administrators - as no offer to buy the firm has come. The firm will close with the loss of up to 330 jobs.
Aperture Trading Limited is the company formed to buy Synseal when that company also went bust.
“Whilst we will be retaining a small skeleton workforce in the short term to assist us with the wind down process, the majority of the 330 Aperture Trading Limited staff will regrettably be made redundant.”
– Tim Bateson
Restructuring Director, KPMG
No acceptable offer
“We have continued to trade the business since our appointment to enable time for a sale of business process to take place," added Bateson on Tuesday, March 24. "Unfortunately no acceptable offer has been received following the marketing process and as a result, trading will cease immediately. All affected staff have been informed and will be paid up to and including their last day of employment."
Assets for sale
Any parties who may be interested in acquiring the company’s assets on a piecemeal basis should contact Alice Hutson - alice.hutson@kpmg.co.uk
Thank you
"We'd like to thank all employees for the support, service and co-operation they have provided to the company, both before and during the administration,” concluded KPMG's Bateson.
Previous reporting
Paddy's Day - March 17 - saw the announcement that KPMG Administrators are running Aperture Trading Limited - the company formed to buy Synseal when that company went bust.
Chris Pole and Will Wright were appointed as joint administrators on the afternoon of Monday 16.
Synseal, which produced a range of profile products and conservatory roof systems - including Global - had operated from premises in Huthwaite, Nottinghamshire. The firms was one of the big names in the industry as it grew under the owning Dutton family.
But once the Duttons exited, the company went through a series of management changes and although still large and respected a decline commenced that led to its demise - leaving a trail of debt in its wake rumoured to be in the region of £16 million.
Mycock up
Synseal was bought out of administration in March 2019 by two directors - CEO Mathew Mycock and then Sales & Marketing Director Andy Jones. Jones declared at the time: " Customers and the entire supply chain can rest assured that Aperture’s management team are all unswerving in our commitment to the venture." Jones left the business shortly after.
Aperture continued to specialises in PVC-U extrusion as well as fabricated window, door and conservatory solutions and had recently gone through a rigorous process to have its fire doors certified so that it could resume trading in that sphere. The company had also just launched its own rooflight product.
“Despite significant and ongoing restructuring of the business last year following its acquisition of Synseal Group’s assets, Aperture Trading has suffered from significant market headwinds, trading pressures and a decline in sales.”
– Tim Bateson
Restructuring Director, KPMG
Attempting to trade on
The joint administrators are attempting to trade the business whilst they seek a buyer, with 330 members of staff retained to assist with this process. 121 of the company’s 451 staff were made redundant as soon as KPMG were appointed. When Aperture took over, the company had in excess of 1,000 employees who were told their jobs would be safe.
1,200 customers were also assured their supplies would be in safe hands.
"Over the last few weeks, we have been exploring sale options for the company and unfortunately none of the interest received presented a viable solution. As a result, this led the directors to take the difficult decision of placing the company into administration," continued KPMG's Tim Bateson.
“Our focus over the coming days and weeks will be to seek a buyer for the various elements of the business and to liaise with those employees who have been made redundant, ensuring they are provided with the support and information they need.”
Interested parties should contact Alice Hutson: alice.hutson@kpmg.co.uk
Picture: The fire sale is on for (now in administration) Aperture Trading which just launched a new rooflight and fire door.
Article written by Cathryn Ellis
30th March 2020