The difficult trading conditions in UK fenestration continue, as we learned last week that Panoglass Ltd, part of the Panoramic Group, had been placed into administration. A statement has been issued on the Vast PR website and this is the comment from Managing Director Alan Ress:

Despite significant and ongoing injections of cash since we acquired the company a year ago, it has been impossible to bring Panoglass Ltd to profitability and the decision to place the company into administration to stem substantial losses became inevitable.

Although we had introduced a number of innovative new products together with advanced manufacturing and management processes, the UK market for insulated glass units remains difficult in terms of fluctuating demand and the ongoing conflict between low prices and demand for ever higher product quality and service, something that is well documented and which has brought a number of other similar companies to their knees. We regret that we too have been unable to overcome the deeply rooted difficulties facing this sector.

The other divisions of Panoramic Group Ltd are unaffected by the decision, continuing to enjoy strong demand for high quality, innovative products and with an excellent financial base. With the political unrest now apparently resolved we expect demand for Panoramic Group windows and doors to grow sharply.

The key thing that stands out for me is the very end of this statement and the reference to politics. I have spoken with a number of heads of companies since the result of the 2019 election was known, and its staggering the level of positivity that they’re all showing. So whilst it is sad to see another part of a company close it’s doors, its clear that there are plenty of us out there now which feel that 2020 could be the start of something better. It has been widely predicted that now, finally, with a clear path forwards with phase one of Brexit, pent up investment should start to flow in to the UK, and home owners may feel more confident to up their spending on home improvements and other big ticket items.

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