Double glazing and conservatory installation firm EAS Windows has been placed into administration after experiencing “cash flow difficulties”.
Energy & Security Limited, which operated from a showroom in Oadby, delivered “several hundred installations each year throughout Leicestershire” according to its former website.
It specialised in double glazing, conservatories and orangeries.
A conservatory installed by EAS Windows
The company appointed administrators from Midlands-based accountancy and business advisory firm Smith Cooper on August 31.
All 14 of the firm’s employees have lost their jobs.
EAS Windows’ work in progress and ongoing order book was sold on the same day to JLD Windows, run by proprietor Jeet Patel, a former self-employed salesman of EAS Windows.
There has been no information issued about what impact, if any, the moves will have on existing customers awaiting orders.
Smith Cooper said it expected the sale to JLD “will protect the interests of the company’s existing customer base, mitigating the claims from creditors”.
The Mercury has not yet been able to obtain an explanation of how “the company’s existing customer base” will be protected by the sale.
Sam Thompson, head of creditor services at Smith Cooper said: “The business had been experiencing cash flow difficulties with duress being applied by a number of trade creditors.
“Although it was not possible to achieve a sale of the business as a going concern this was clearly the best outcome available in the circumstances.”
An example of double glazing installed by EAS Windows
Adam Spradbury, the managing director of EAS, said: “It is with sad regret that EAS Windows has been placed into administration.
“To all of our customers, thank you for your business over many years.”
JLD Windows owner Mr Patel was formerly a self-employed salesman for EAS and had been the main point of contact for a number of the existing and new customers.
He said: “Having worked closely within the business for a number of years it seemed right to pick up the baton and work with the customers to present a solution, rather than allow the business to fall by the way side.
“I will be contacting customers over the coming days and weeks but should anyone have any questions or concerns I would be more than happy to speak with them with a view to resolving any issues.”
Mr Patel’s mobile telephone number can be found at EAS Window’s former website.
The Mercury tried to contact him, but he was unavailable for further comment.
Simon Trees, a partner at Nelsons Solicitors, advised on the legal aspects of the sale on behalf of the administrators.
He said: “We are delighted to have assisted Smith Cooper on this transaction and hope the underlying business can continue to provide the reputable service that EAS has continued to do for nearly 30 years.”