A door and window frame manufacturer went into administration yesterday with the loss of 24 jobs. A “dire cash position” forced the directors of Norfolk Frames Limited to take the measure, but the firm will continue to trade. Joint administrators Chris Williams and Chris McKay at Norwich-based business rescue and insolvency specialist McTear Williams & Wood hope to put together a rescue plan in the coming weeks. Mr McKay said the company had some good contracts within the social housing sector supplying doors and windows.
He said: “We have had positive conversations with key customers and suppliers and they are keen to support the business at this difficult time. We have secured work from customers to allow the business to continue to trade for the time being, but unfortunately we have had to make 24 employees redundant leaving a workforce of 36.”
Mr Williams added: “It was immediately clear that this company had potential to be turned around, but the dire cash position left the directors with no choice but to place the company into administration to protect it from its creditors. We will now be working with the employees to get production going again as soon as possible.”
The company, which has an annual turnover of £7m, specialises in the design, manufacture and fitting of GRP doors and UPVC windows exclusively into the social housing sector.
Director Anne Lewis, said: “The company has a good order book and with the support of the customers, suppliers and employees we hope that a short period of administration will give the company some breathing space in order for a rescue plan to be developed.”
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Norwich Evening News
26 April 2012