Following reports two weeks ago that Everest was being put up for sale, it has been confirmed via Evolution Home Improvements that Everest 2020 Ltd was placed into administration on April 24th 2024.
This was the communication sent to clients from Evolution:
As we aim for improved communication, we find it essential to notify you direct about news pertaining to Everest 2020 Ltd.
As of the 24th April 2024, Administrators have been appointed for Everest 2020 Ltd only. Evolution Home Improvements Ltd are not in administration and continue to trade as normal.
If there is any additional information, we will continue to be transparent and communicate that with you directly.
If you have any questions or concerns, please feel free to contact us.
Installers to Evolution will be reassured that this won’t affect the trading of Evolution, who will likely now run as an independent business for the foreseeable future.
Everest have recently posted this statement at the head of their website:
ANNOUNCEMENT:
Chris Farrington, Cameron Gunn and Lee Manning of ReSolve Advisory Limited were appointed as Joint Administrators of Everest 2020 Limited (“Everest”) on 24 April 2024.
If you have any queries in relation to the business and/or administration, please contact everest2020@resolvegroupuk.com.
Chris, Cameron and Lee are licensed to act as Insolvency Practitioners in the United Kingdom by the Institute of Chartered Accountants in England and Wales and, along with their staff, act without personal liability at all times.
Licenced Insolvency Practitioners who are appointed as Administrators, and their staff, act as agents of the company over which they are appointed. A list of ReSolve’s licensed Insolvency Practitioners can be found on our website.
It is understood that ReSolve are now seeking bidders for the collapsed company. The question now is whether the remains of the business or brand will be bought or left to fade into the history books. Could we see another situation similar to that of Anglian, who bought the order book and brand of Safestyle. Anglian now advertise Safestyle as a brand of window under a newly reorganised group. Safestyle doesn’t exist as a business, but has been turned into a brand.
It may be that an outsider to the sector takes a punt on what will now be a bargain. The question is, who will be willing to supply them?
This is a breaking story and will be updated once new information becomes available.
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I worked for Everest in sales in the 80s, there were 1500 or so sales reps managed by 200 Area Managers. None of these were paid a basic, working entirely on commission and the company thrived by knocking on doors, backed up with Ted Moult ads on TV. It went down hill due to corruption then by employing managers on PAYE. These managers came from outside the industry, typically car salesmen. The sales force shrunk to about 100 strong who mostly suffered financial difficulties, new people received basic training in how to price followed up with nothing. I finished at… Read more »