100 manufacturing jobs saved as business bought out of administration

By Hull Daily Mail | Posted: 12 Nov 2018

A rescue deal has been made at a Hull door manufacturer which entered administration earlier this month, saving more than 100 jobs.

Summerbridge Doors, based in Anlaby, was forced to call in administrators on November 6, as the three decade-old company went under.

The business was immediately sold to Humber Doors Ltd, in a bid to find a buyer for the company and its assets.

After a significant amount of interest, an offer for Summerbridge Doors was accepted, and a sale was agreed, saving more than 100 jobs in Hull.

Read more: Staff at Hull manufacturer Summerbridge Doors 'left in dark' over company's future

Staff at Summerbridge Doors said they felt they were being left “in the dark” last month, after they were paid late before being told an announcement was to be made by the manufacturer.

Annabel Gray of RSM Restructuring Advisory LLP, who led the sale of business, said: “This was a challenging transaction to deliver within a tight timescale but the deal is not only good news for the employees, but it also presents future opportunities for the supply chain.

“The competitive marketing process ensured the best realisation for the business and assets was achieved for the benefit of all stakeholders and a return to unsecured creditors is anticipated.”

Keith Marshall and James Miller, of RSM, were appointed Joint Administrators of Summerbridge Doors Limited on November 6.

The company has manufactured MDF doors and cabinets for almost 30 years, trading from premises in Springfield Way, Anlaby.

The Joint Administrators worked with Rollits LLP and Sanderson Weatherall on the transaction.

Summerbridge Doors, Springhead Lane, Anlaby.

In 2012, Summerbridge Doors was named as one of Yorkshire’s “fastest 50” businesses for its growth. In 2017, Summerbridge recorded a loss of £134,508, having made a £33,000 profit in 2016.

Despite the profits slump in 2017, turnover at Summerbridge increased from £8.7m to £9.1m.

On Thursday, October 18, staff gathered outside the business seeking answers after realising they had not been paid on time.

Read more: Agricultural giant returns to Hull with acquistion after almost a century's absence

The relative of an employee said: “They got a call at around 5.45am from a colleague, asking whether they had been paid.

“At 6am, all the staff who had not been paid were stood outside the offices waiting to find out what was going on.

“Directors of the company turned up at around 8am, and went inside. Staff were later told by a supervisor at around 10am that the bank would honour their payment, and if they wanted to stay and work they could do, but if not to go home. They feel like they are being left in the dark."

Summerbridge Doors later slumped into administration, but jobs have now been saved following the buyout.



Follow us on Facebook and Twitter

Manufacturing News

Source article: http://www.hulldailymail.co.uk/

Share Article

Grimsby News

Cleethorpes skyline to change forever as controversial Cleethorpes One high rises are approved

Hull & East Riding News

Shock setback for ABP's Humber industry park plan as 6m grant is pulled

Scunthorpe News

Region-returning IoD chief: Brexit is taking up too much bandwidth

Your News

Would you want your employees working from home? Read more in our Your News special report