Latest news with #PaulDounis
The National
3 days ago
- Business
- The National
80 jobs lost as Scots firm appoints liquidators after 90 years of trading
Andrew Wright Windows Ltd and Andrew Wright Glass Ltd, headquartered in Irvine and established in 1937, have announced that it has entered into liquidation. A total of 83 employees have been made redundant, 65 who worked at Andrew Wright Windows Limited and 18 at Andrew Wright Glass Limited. The firm provided windows and doors for social housing, local authorities, domestic and commercial construction, and said it had seen a 'significant' slowdown in the construction industry in 2023/24, which in turn had a detrimental impact on its sales. READ MORE: Labour's Homelessness Minister 'evicted tenants and hiked rent to £4k a month' Andrew Wright Windows said it had seen its turnover decline by approximately 35% due to the slowdown in sales, while Andrew Wright Glass saw a reduction of 60%. Mark Harper and Paul Dounis from Opus Restructuring & Insolvency were appointed joint provisional liquidators at the firm on Wednesday. They said both companies had experienced 'significant cashflow challenges' among other factors such as contract tendering, rising cost of raw materials and increasing staff costs which led to liquidators being appointed. Despite 'exhaustive efforts', the directors were said to be left with 'no option' but to cease trading. Mark Bradford and James Fraser, the company's directors, said: 'This is a profoundly sad moment for all at Andrew Wright. 'Over two years, we have done everything we could to turn the business around, but the challenges have proved insurmountable. 'We are truly sorry for the impact the closure will have on our employees, customers, and the wider community. 'We will work now with Opus to support our employees and stakeholders through the transition.' Harper, partner of Opus Restructuring & Insolvency and joint provisional liquidator, said the directors 'fought hard' to save the two long-standing businesses. He said: 'The collapse of Andrew Wright Windows Limited and Andrew Wright Glass Limited is another indicator of the challenges and economic headwinds currently facing the Scottish construction sector. 'The directors fought hard to save these long-standing businesses, but the construction industry has experienced several challenges over recent years, and this impacts heavily throughout the supply chain, putting businesses under increased pressure. 'Our priority is to assist those members of staff who have been made redundant, providing them with the information and support they need to claim their statutory entitlements from the Redundancy Payments Office, as well as to support the owners, for whom this is also an extremely difficult time.'
The National
3 days ago
- Business
- The National
80 jobs lost as Scots firm appoints liquidators after 90 years trading
Andrew Wright Windows Ltd and Andrew Wright Glass Ltd, headquartered in Irvine and established in 1937, have announced that it has entered into liquidation. A total of 83 employees have been made redundant, 65 who worked at Andrew Wright Windows Limited and 18 at Andrew Wright Glass Limited. The firm provided windows and doors for social housing, local authorities, domestic and commercial construction, and said it had seen a 'significant' slowdown in the construction industry in 2023/24, which in turn had a detrimental impact on its sales. READ MORE: Labour's Homelessness Minister 'evicted tenants and hiked rent to £4k a month' Andrew Wright Windows said it had seen its turnover decline by approximately 35% due to the slowdown in sales, while Andrew Wright Glass saw a reduction of 60%. Mark Harper and Paul Dounis from Opus Restructuring & Insolvency were appointed joint provisional liquidators at the firm on Wednesday. They said both companies had experienced 'significant cashflow challenges' among other factors such as contract tendering, rising cost of raw materials and increasing staff costs which led to liquidators being appointed. Despite 'exhaustive efforts', the directors were said to be left with 'no option' but to cease trading. Mark Bradford and James Fraser, the company's directors, said: 'This is a profoundly sad moment for all at Andrew Wright. 'Over two years, we have done everything we could to turn the business around, but the challenges have proved insurmountable. 'We are truly sorry for the impact the closure will have on our employees, customers, and the wider community. 'We will work now with Opus to support our employees and stakeholders through the transition.' Harper, partner of Opus Restructuring & Insolvency and joint provisional liquidator, said the directors 'fought hard' to save the two long-standing businesses. He said: 'The collapse of Andrew Wright Windows Limited and Andrew Wright Glass Limited is another indicator of the challenges and economic headwinds currently facing the Scottish construction sector. 'The directors fought hard to save these long-standing businesses, but the construction industry has experienced several challenges over recent years, and this impacts heavily throughout the supply chain, putting businesses under increased pressure. 'Our priority is to assist those members of staff who have been made redundant, providing them with the information and support they need to claim their statutory entitlements from the Redundancy Payments Office, as well as to support the owners, for whom this is also an extremely difficult time.'
STV News
4 days ago
- Business
- STV News
More than 80 jobs lost as Scots firm appoints liquidators
More than 80 jobs have been lost at a North Ayrshire windows and doors firm that began trading nearly 90 years ago. Andrew Wright Windows Ltd and Andrew Wright Glass Ltd, based in Irvine, were acquired by the current directors from the original founders in August 2023. The firm, which provides windows and doors for social housing, local authorities, domestic and commercial construction, and private and residential customers, first began trading in 1937. In total, 83 employees have been made redundant, 65 of whom worked at Andrew Wright Windows Limited and 18 at Andrew Wright Glass Limited. Mark Harper and Paul Dounis from Opus Restructuring & Insolvency were appointed joint provisional liquidators at the firm on Wednesday. A 'significant' slowdown in the construction industry in 2023/24 had a detrimental impact on sales, reducing turnover by approximately 35% for Andrew Wright Windows and 60% for Andrew Wright Glass. The liquidators said both companies experienced 'significant cashflow challenges' among other factors such as contract tendering, rising cost of raw materials and increasing staff costs. Despite 'exhaustive efforts', the directors were said to be left with 'no option' but to cease trading. Mark Bradford and James Fraser, the company's directors, said: 'This is a profoundly sad moment for all at Andrew Wright. 'Over two years, we have done everything we could to turn the business around, but the challenges have proved insurmountable. 'We are truly sorry for the impact the closure will have on our employees, customers, and the wider community. 'We will work now with Opus to support our employees and stakeholders through the transition.' Mr Harper, partner of Opus Restructuring & Insolvency and joint provisional liquidator, said: 'The collapse of Andrew Wright Windows Limited and Andrew Wright Glass Limited is another indicator of the challenges and economic headwinds currently facing the Scottish construction sector. 'The directors fought hard to save these long-standing businesses, but the construction industry has experienced several challenges over recent years, and this impacts heavily throughout the supply chain, putting businesses under increased pressure. 'Our priority is to assist those members of staff who have been made redundant, providing them with the information and support they need to claim their statutory entitlements from the Redundancy Payments Office, as well as to support the owners, for whom this is also an extremely difficult time.' Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
