The Latium Group have announced that they have purchased the Entu group out of administration. Here is the official statement from the Latium Group website:
The Latium Group are delighted to announce the purchase of the Businesses of Entu (UK) PLC which includes the brands: Weatherseal, Penicuik, Zenith, St Helens Glass, St Andrews and Job Worth Doing.
Latium’s CFO, Adrian Kirk, said: “We are delighted to have acquired these excellent brands and all of the employees of Entu. Latium will invest substantial amounts of capital and expertise in order to continue the great service and products that these brands offer to the consumer.
Latium, a privately owned international group of companies, owns businesses in the manufacturing, retail, commercial property, technology and renewable energy sectors”.
Naturally, this will come as very welcome relief to all those who work at Entu. It is estimated that 270 jobs at the company will have been saved via this deal.
Relief will also come to creditors of Entu, who will have been wondering if their bills were going to be repaid.
Epwin shares, who supply parts of the Entu group, rose sharply on the news:
A ray of good news
There has been a lot of rumour, gossip, and frankly bad news within the industry in the past few weeks. This is a ray of hope and good news in and amongst that which we should be thankful for. If Entu had been allowed to fail the knock-on effects for the people who work at the company and the companies associated with the group would have been enormous.
There’s a lot to be said for continuity, and from here I hope that some level or normality, mixed with positive change can bring a change in fortunes for the business.
I am waiting to see if Entu will publish their own statement on the deal, and if they do, this post will be updated as and when it becomes available. It remains unclear as to whether Entu as a group will remain. The Latium statement says it has acquired the businesses of Entu, perhaps hinting at amalgamating the brands into their own group. As time moves on more will become known.
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