Following on from last week’s news that Everest was being placed into administration, posts being made by now former employees at the business are now saying that they have been made redundant from the company. A sign that no buyer for the business has been found as of yet.
Here are some examples of what is being said online:
It appears that there will be no last minute saviours for what is left of the business. The only scenario I can see as being possible, but by no means guaranteed, is that the brand and order book might be clinched from the administrators at some point.
Only in October last year we saw the demise of Safestyle, which also saw hundreds of people lose their jobs and leave thousands of customers in limbo with deposits paid, work yet to start or work needing to be completed. We have the same situation here, with yet more jobs lost and more homeowners in left in the lurch.
If another company with deep enough pockets steps in, they could buy the order book and swallow up the Everest brand in the same way Anglian did with Safestyle. But in an industry which is seeing closures of businesses pretty much every day now and confidence shaky, it would take a brave person to bet on a similar outcome to that of Safestyle and Anglian.
Update from administrators
ReSolve, the agency appointed as administrators of Everest, have provided a web address for those who have queries or questions about the administration of Everest: https://www.resolve-everest.co.uk/
The statement on the site says:
Announcement
Chris Farrington, Cameron Gunn and Lee Manning of ReSolve Advisory Limited were appointed as Joint Administrators of Everest 2020 Limited on 24 April 2024.
A copy of their Notice of Appointment can be found here.
This site is operated by the Administrators of the Company. Its purpose is to inform the Company’s creditors of matters relating to the Administration. We will also publish answers to frequently asked questions. If you have such questions or queries, please email us here.
About ReSolve
Founded in 2006, ReSolve is a multi-award-winning independent business advisory and restructuring firm. For more information please visit our website.
Latest news for creditors
We are currently obtaining information about the Company, its business and the extent of any assets and liabilities. We will be populating an FAQ on this site shortly and relevant news for creditors will be added as it becomes available.
The Administrators’ proposals for dealing with the affairs of the Company will be issued on or before the 19 June 2024.
What I hope is that the industry uses it’s connections on social media and other avenues to find those who have lost their jobs new employment as fast as possible. Sadly, it’s not only those at Everest who are finding themselves in this position, as we have seen a plethora of companies up and down our supply chain fall to the same fate since the start of the year. I sincerely hope that everyone finds new employment and something even better comes out of a situation like this.
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