Transfer at West Norfolk air conditioning firm

The business and assets of King's Lynn-based Anglia Installations Maintenance, which was put into administration last week, have been sold to AIM Construction & Development. Set up in 2008 to provide heating, ventilation and air conditioning services mainly to London customers, Anglia Installations Maintenance expanded to a turnover of £20m in 2016 but was hit by two large bad debts leading to cashflow pressure and significant losses which could not be sustained. Under the transfer, all the jobs have been saved and the ongoing contracts are to be completed for the benefit of creditors. Joint administrator Andrew McTear of Norwich-based McTear Williams & Wood said: "We are pleased to be able to achieve the smooth transfer of the company's major contracts at a premium which should enable a dividend to be paid to creditors."

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22 June 2017

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