Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Erosion of margins sees 211 jobs lost at major UK glazier

One of Britain’s biggest glaziers, AC Yule, has been put into administration with the loss of 211 jobs.

In its pomp in 2007, the 65-year old Scottish firm employed 460 staff and had a turnover of £37 million. At the time of administration, the headcount had shrunk to 272.

According to Blair Nimmo one of the joint administrators from KPMG, the firm had been hammered by a combination of falling orders and shrinking margins.

He said: “As a result of prolonged difficult economic conditions over the last three years, AC Yule & Sons Ltd sustained a reduction in its turnover together with considerable erosion in its margins.”

The directors had been forced to appoint administrators, he said. KPMG is now seeking a buyer for the firm, or for its assets.

“The directors proactively implemented a number of restructurings - both financial and operational - which involved significant additional share capital being injected,” said Nimmo.

“Unfortunately, despite these actions, losses continued to ensue which led to the directors concluding that they had no option other than to seek the appointment of administrators.”

AC Yule is a glass processor, producer and installer of architectural aluminium products and PVC windows.

It provides products and services to joiners, glaziers and builders and also undertakes larger contracts for main contractors particularly on the architectural and aluminium side of the business.

AC Yule operates from its headquarters in Aberdeen together with sites at Elgin and Livingston.  It also operated until recently from sites at Forfar and Boldon near Newcastle.

Blair Nimmo and Gary Fraser of KPMG were appointed joint administrators of AC Yule & Sons Limited (“the Company”) on 7 November 2011.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.