Auto Windscreens enters administration
Auto Windscreens, which is the UK’s second largest windscreen repair and replacement company, has been placed into administration, putting more than 1,000 jobs at risk.
Deloitte, which has been appointed as administrator for the Chesterfield-based company, said there were no funds with which it could continue trading.
According to Deloitte, the company has suffered trading and cash-flow problems, while a major creditor served it with a winding up petition.
The company has a network of 68 centres across the UK and more than 500 mobile units. It has an annual turnover of roughly £63 million.
The administrators are asking anyone interested in buying the business to get in touch.
Matt Cowlishaw, partner in Deloitte’s reorganisation services team, said: “It is extremely disappointing to see such a well-known business enter administration. The company worked extremely hard to try and recapitalise the business, but unfortunately this could not be achieved in the time available.”
Mr Cowlishaw added it is in talks with major shareholders in an effort to save the business.