Double glazing giant Everest crashes into administration | Business News
One of Britain’s biggest double-glazing suppliers has crashed into administration, leaving insolvency practitioners engaged in a race to salvage hundreds of jobs. Sky News has learnt that Everest, which has been owned by the prominent financier Jon Moulton’s investment firm Better Capital for more than a decade, called in administrators this week. ReSolve, a professional services firm, has been appointed to handle the process. Sources said it was now engaged in an attempt to find a buyer for Everest in order to save as many of the company’s roughly 350 employees’ jobs as possible. Money latest: Morrisons shoppers are going to notice two changes Potential bidders are expected to include turnaround investors as well as industry players. Mr Moulton, one of the City’s best-known turnaround specialists, has been winding down Better Capital for years, with Everest one of its few remaining investments. He engineered a rescue deal for the loss-making business months after the COVID outbreak prevented its workforce from visiting customers in their homes. A pre-pack administration, which took place in June 2020, salvaged …