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Collapse of Norwich firm Uniglaze leads to 225 redundancies

The collapse of Norwich glazing supplier Uniglaze 2 (East Anglia) has led to 225 job losses, with more expected later this week.

Administrators from KPMG announced 137 job losses last night, in addition to 88 redundancies on Monday, immediately after they were appointed to the firm.

CN reported earlier this week that there have been 6,179 insolvencies across the industry since the third quarter of 2010.

More job losses are expected at Uniglaze 2 - which supplies toughened glass and double glazing - later this week, with administrators describing the chances of a sale of the business as ‘remote’.

The company, which had a turnover of £21m, employed 285 people across two sites in New Costessey and Spar Road, Norwich. 

Chris Pole and Richard Philpott from KPMG Restructuring were appointed joint administrators to Uniglaze 2 (East Anglia) said the company had struggled for a number of years “in the wake of the severe downturn that has hit the UK construction sector and wider economy”.

Uniglaze 2 had tried to enter into a company voluntary arrangement, but it was hit harder by a decline in turnover and the insolvency of a key customer, and could not access funding.

Mr Pole said: “We have had to take the difficult decision to implement a wind down of the business following completion of existing work in progress.  This has inevitably led to further redundancies today, with more expected later this week. 

“The high cost base of the business and the anticipated migration of sales orders to competitors means that any extended trading under the administration would be heavily loss making and require significant funding. 

The administrators had hoped for a sale, but said last night: “From our early discussions with interested parties, it has quickly become apparent that the possibility of selling the business as a going concern is remote. 

“We would still encourage anybody interested in acquiring the business or assets to contact the administrators as soon as possible.”

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