The ongoing story of the administration of Uniglaze 2 in Norfolk has taken a sad turn today. The BBC website is reporting that Uniglaze is to close it’s factory in Costessey with the loss of 137. This is on top of the 88 that were lost when the company was placed in administration by KPMG.
60 staff are going to stay on a temporary basis so that all existing order will be fulfilled. Unfortunately, after that, they will go.
It is very sad to see such a sad situation descend on a company with such a large turnover. The BBC is reporting:
KPMG’s Chris Pole said “significant funding” would have been required to keep Uniglaze running under administration.
“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,” he added.
“We would still encourage anybody interested in acquiring the business or assets to contact the administrators as soon as possible.”
I am unaware as to how much time is left to save the business, but judging by the comments from KPMG, it’s probably not going to be very long.