The UK Window Group have provided a statement confirming that the business has been reformed:
UK Window Group today confirms that following an extensive process, certain assets of the Company have been sold to a subsidiary of Boxwood Capital Ltd in a related party transaction as part of a wider strategic restructuring programme. The transaction secures the long-term future of the Company and the jobs of over 850 employees in South Wales and England through a much improved and secure financial position.
All employees have been transferred to the new legal entity. Moreover, we are working closely with Community, the trade union, regarding proper consultation for employees at our Caerphilly site, following the announcement of its closure earlier this month. In addition labour requirements at Williamstown are also under review and that too will form part of the ongoing consultation process with Community and employees. We have roles available at other locations and we will be engaging with the affected employees on potential reassignment to minimise the impact on them.
Suppliers and customers have been informed and it is business as usual.
UK Window Group have advised me that as the consultation process is ongoing, the number of jobs that may be lost is as of yet unknown. They have told me that they remain committed to South Wales and aim to keep as many jobs as possible at its Treorchy plant.
This statement follows the one made by Safestyle UK this morning as they sought to assure markets that they have a secure supply chain. You can read that here.
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