Safestyle UK, the Bradford retailer and manufacturer of PVCu replacement windows and doors, has announced its intention to appoint administrators.
It follows the news of parties withdrawing their interest in buying the business and comes as the doors of Safestyle were closed, resulting in up to 600 job losses, and the business suspending share trading.
The Board of the main trading subsidiary of the group, H.P.A.S. Limited (HPAS) and other intermediate holding companies in the group, namely Style Group Holdings Limited and Style Group UK Limited, has concluded that they are no longer able to continue trading as a going concern.
As a result, the Board has filed notice of intention to appoint administrators to HPAS, Style Group Holdings Limited and Style Group UK Limited.
A statement added: “Unless financial circumstances change, and in accordance with statutory requirements, the board of these three companies intends to appoint administrators within 10 business days.”
