31 jobs saved as specialist blind firm is sold out of administration
A total of 31 jobs have been saved after a long-established South West blinds and shutters supplier went into administration.
Broadview Blinds Limited went into administration on 13 December, 2013 and appointed Julie Palmer and Simon Campbell, of business recovery and insolvency specialist Begbies Traynor's Salisbury office, as administrators.
The company, which is headquartered in Poole, Dorset, but is renowned for serving customers across the South West region, produced and fitted a variety of blinds, awnings and shutters for retail and commercial customers.
Having traded successfully for over 30 years, it was affected by the economic downturn and the reduction in both new builds and other sales in the housing market. As a result the company sought to refocus the business by expanding its commercial offering whilst continuing to meet the demands of residential customers.
Immediately after Begbies Traynor's appointment the business and assets of part of the company were sold as a going concern to Broadview Vehicle Awnings Limited. The seamless transfer preserved the jobs of 31 staff and ensured the best possible outcome for creditors affected by the insolvency.
Unfortunately 27 staff were made redundant as the purchasers restructured the business by closing down a number of the smaller retail sales outlets.
Julie Palmer, regional managing partner at Begbies Traynor commented: “Broadview is a well-established, well managed and operationally sound business which has been restructured successfully through the rescue mechanism of administration. It is a difficult time for those who have lost their jobs, particularly at this time of year, and everything is being done to assist them. But we’re confident the business is now in a sound position to trade forward and prosper in the future.”
Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.
Julie is a member of the Insolvency Practitioners Association and the None Administrative Receivers Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.