Parkside Group Limited(The) (00921619): administration
- Status
- In administration
- Administration began
- 2025-03-11
- Administrators
- Guy Robert Thomas Hollander, Patrick Alexander Lannagan
- Administrators' firm
- Mazars
- Formerly
- Parkside Group Limited; D W and J E Cook Limited
- Incorporated
- 1967-11-07
- Location
- London
- Industry
- 24420 Aluminium production
Why it went into administration
- Brexit
- COVID-19
- Weak consumer demand
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
3.1.1 The Company was founded in 1967 and recently purchased by its management team, via a management buy-out (“MBO”), in 2015. The consideration paid by the MBO was largely funded by the introduction of the invoice financing facility.
3.1.2 The invoice financing facility was entered into with RBS Invoice Finance Limited (“the Bank”) in July 2016 with a limit of £4.5m on invoice discounting facility (c.90% advance rate) and £2.5m on the stock financing facility.
3.1.3 The Company is headquartered and traded from Mitcham, Surrey and in the period prior to Administration, employed 55 staff. Supplying aluminium, composite fenestration, door system and door hardware within the construction industry and included four trademark brands.
Administrators' statement of proposals (2025-03-25) · Companies House register