North East based firm Washington Display Limited, manufacturers and designers of point of sale racking, has been bought out of administration by an associated company, WDL Products Limited.
Joint administrator, Andrew Haslam of Begbies Traynor in Newcastle, stated: “The business was in need of immediate financial investment to continue trading. Our colleagues in BTG Corporate Finance, the corporate finance division of Begbies Traynor Group, undertook a marketing campaign to locate a third party purchaser and the only party to come forward was the associated company.
“Detailed negotiations were commenced which have ultimately lead to the successful sale of the business, safeguarding 62 jobs which is particularly welcome in the current economic climate, as well as reducing disruption to the supply chain for customers.”
Shaun Allen, director of WDL Products Limited, said: “Washington Display Limited has a high level of industry related skills within its work force and the management team are very positive about the future of the business. The manufacturing facilities of the factory are exceptional and, combined with the product development capabilities of the sales and engineering teams, there is a real opportunity to deliver the high level of customer service required within the industry.”
A Chartered Certified Accountant and Licensed Insolvency Practitioner, Gillian has been involved in business rescue recovery and insolvency since 1999. She began her career with KPMG before joining Begbies Traynor’s head office in Manchester, moving to the Begbies Traynor Nottingham office in 2004 before returning to her native northeast to join the newly opened Newcastle office at the end of 2008.
Gillian was involved in the opening of a further northeast office in Teesside in 2010 and now spends her time between the two offices.
She is also an ACCA Northern Counties Panel member.