In a notice posted to public information site The Gazette, it appears Indigo Products Limited have appointed Duff & Phelps Ltd as administrators. This is the notice that has been posted online and is freely available to view here:
This follows after news of job losses at Zenith was reported earlier on this month.
Sources of mine had reported news of Indigo to me days previously, however this is the first official statement to confirm the news. Naturally it is hoped that the company can be sold and jobs will be secured movings forwards.
Turbulent times ahead
News of this comes as we appear to be heading into much more turbulent times for the UK fenestration industry. Those who are well connected who I speak to point to difficult times right now for the industry. Whilst some might be publicly stating that all is well and good, the reality more generally is that we’re on a downward trajectory.
There are signs all around to back this up. In a recent Safestyle trading update they reported that FENSA’s own figures show a 8.2% drop in market volume. This is a significant number and one we should be paying attention to. We are seeing more companies head towards administration or sale. Jobs are being cut and profitability is suffering.
Whilst some may blame Brexit, the reality is that we’re coming to the end of an economic cycle, where the US and China are also seeing protracted slowdowns in their own economies. With the quietest time of the year coming up, we could well see more selling of companies by owners who feel that now is the right time to offload assets.
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