Auto Windscreens tumbles into administration
Receivers have been called in at Auto Windscreens, Britain’s second biggest windscreen repair firm, putting 1,100 jobs at risk.
The Chesterfield-based company said it had temporarily suspended all operations while administrators from accountancy firm Deloitte seek a buyer for the business. Meanwhile a Deloitte spokesman said there were no funds with which it could carry on trading, and customers are being advised to contact alternative firms.
Deloitte said a number of factors had caused the collapse. One major customer terminated its contract with Auto Windscreens, and a major creditor has recently served it with a winding-up petition.
According to reports, these factors combined with cash-flow problems caused by lower-than-expected sales revenues at the end of last year and delays in putting in place a new IT system, as part of a major restructuring.
Auto Windscreens has 68 fitting centres, 550 mobile units, a call centre and a distribution centre at Aston, Birmingham.