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Euroglaze rescue saves 57 jobs

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Jobs have been saved after a Barnsley-based uPVC door and window manufacturer was bought out of administration.

Barnsley-based Drowstan Ltd, which traded as Euroglaze Systems, has been acquired by new company, Euroglaze Ltd, saving 57 jobs, and enabling the family business to continue trading.

Established in 1979, the £3.9m-turnover company makes products for the building trade and is based at Carlton Industrial Estate.

It was placed in the hands of administrator Phil Booth of PR Booth & Co on 10 September 2014 who immediately secured a sale of the business, including property, vehicles, stock and plant, to a new company, Euroglaze Ltd.

The sale has enabled the business to continue trading with all 57 jobs being transferred to the new company. PR Booth & Co was advised by Alice Pratt, partner in our Corporate Recovery team.  

Administrator Phil Booth said: "Despite having traded for 35 years, the company faced problems as a result of the recent recession which has left the business struggling despite an upturn in market conditions over the past year, leaving the director with no alternative but to place it into administration.

"Working closely with Clarion, we were able to swiftly conclude a sale, rescuing the business and securing the jobs of the entire workforce."

Alice Pratt of Clarion added: "The administrator needed to act quickly to preserve the value of the business and we were happy to be able to expedite the sale process. It is good news that the business and its workforce now have a brighter future."

Drowstan director Martin Nettleton said: "This means that Euroglaze will remain a trusted name in the industry for the future."

Source: Yorkshire Business Insider - September 2014