Janice R. Andrews
Everest, a well-known national company in the double-glazing industry, declared its administration today, raising concerns over the destiny of its personnel and operations in County Durham, Teesside, and North Yorkshire. For more than a decade, the company has been owned by financier Jon Moulton’s investment firm Better Capital. It has now appointed ReSolve administrators to manage the process.
Everest’s official website announced the appointment of Chris Farrington, Cameron Gunn, and Lee Manning of ReSolve Advisory Limited as Joint Administrators, beginning April 24, 2024. The administrators, who are licensed by the Institute of Chartered Accountants in England and Wales, are in charge of handling the company’s affairs at this important moment.
Everest has begun looking for a buyer in an effort to save as many of the 350 jobs at jeopardy as possible. With fitters stationed in Durham, Middlesbrough, Newcastle, Northumberland, and sections of North Yorkshire, the administration’s influence on regional employment is questionable.
According to reports, Everest is urgently seeking financial assistance to reduce creditor pressure and reinvigorate its operations, with a focus on immediate investment in marketing, systems, and brand promotion.
The decision comes as Jon Moulton’s Better Capital is gradually winding down, with Everest one of its few remaining stakes. As stakeholders await further developments, the destiny of Everest and its personnel remains uncertain, underlining the problems that businesses face in an ever-changing economic market.
