Reviewed: 23rd December 2015
The Laidlaw Interiors Group, which had employed close to 1,000 people around the UK, called in administrators in recent days after financial pressures took their toll on the organisation.
Several of the group’s subsidiary companies were sold immediately as it entered administration but some of its operations remain unsold with hundreds of jobs in jeopardy as a result.
The group has been a leading supplier of architectural ironmongery products and services generating turnover in excess of £100 million on an annual basis.
Administrators of the group have said that they found buyers for four of its seven distinct businesses prior to its entry into administration with no jobs lost at those operations.
However, three of the group’s businesses are still to be sold including Leaderflush Shapland, which employs dozens of people and which specialises in supplying door sets and architectural ironmongery products to health and education bodies, as well as to leisure and commercial sector organisations.
Richard Hawes from Deloitte, one of the recently-appointed administrators, said in a statement: “The management of the group has been working hard to explore options to secure the future of all of its subsidiaries and, as administrators, we will continue those efforts.
“Laidlaw Interiors has been trading in some very challenging times and, while a number of businesses within the portfolio are profitable, the overall trading circumstances have become unsustainable.”
The London-based investment firm Valtegra acquired four divisions of the Laidlaw group after it entered administration, with new owners still being sought for Laidlaw Ironmongery, Balustrading Solutions and for Leaderflush Shapland, which is based in Nottingham.
The purchases made by Valtegra effectively safeguarded 390 jobs but hundreds of other Laidlaw group employees remain uncertain of their future.
Laidlaw’s company history stretches back to the 19th century when its founders were makers of iron harnesses and mill equipment.
In 1985, the company was publicly listed before being sold to new owners a year later and becoming the subject of a management buyout in 2003.
The Laidlaw Interiors Group was established in 2011, with its seven businesses operating in 35 different locations in the UK and elsewhere in the world.
With 75 offices stretching from Inverness down to Exeter, Real Business Rescue can offer unparalleled director advice across the UK.
17th April 2019
HMRC applied to see more than 4,000 UK companies closed down over the course of 2018 and is being too aggressive in its pursuit of tax-related debts.Read More
12th April 2019
British high streets saw the sharpest rate of net store closures on record over the course of last year, according to a new set of figures.Read More