Broadview Blinds sold out of administration - with 31 jobs saved

Bournemouth Echo: Broadview Blinds sold out of administration - with some jobs saved Broadview Blinds sold out of administration - with some jobs saved

A blinds firm has been sold out of administration - saving 31 jobs but losing 27 others.

Broadview Blinds of Poole announced on December 13 that it was shutting.

The company blamed the economic downturn and a reduction in new house building.

However, the business and assets of part of the company have been sold as a going concern to Broadview Vehicle Awnings Ltd after a restructuring.

Comments (6)

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1:53pm Mon 23 Dec 13

funkyferret says...

Great News - (it would have been curtains for everyone otherwise!) :-)
Great News - (it would have been curtains for everyone otherwise!) :-) funkyferret

3:45pm Mon 23 Dec 13

Gastines3 says...

I just hope any creditors haven't lost out in the "Restructuring".
I just hope any creditors haven't lost out in the "Restructuring". Gastines3

5:37pm Mon 23 Dec 13

LordLilliput says...

Gastines3 wrote:
I just hope any creditors haven't lost out in the "Restructuring"
.
Quite probably. Too often this will mean debts remain unpaid so other businesses ultimately pick up the pieces, assets are redistributed (often to the same directors or partners) and off the company goes again albeit under a different guise that is subtly concealed from the general public.

Unfortunately this is a practice that occurs far too often and leaves a wake of destruction in it's path. If you can't make a business work then you should be wholly accountable, name changes, debt ridding upon others followed by the relining of ones pockets is immoral and unethical - at least in my book.
[quote][p][bold]Gastines3[/bold] wrote: I just hope any creditors haven't lost out in the "Restructuring" .[/p][/quote]Quite probably. Too often this will mean debts remain unpaid so other businesses ultimately pick up the pieces, assets are redistributed (often to the same directors or partners) and off the company goes again albeit under a different guise that is subtly concealed from the general public. Unfortunately this is a practice that occurs far too often and leaves a wake of destruction in it's path. If you can't make a business work then you should be wholly accountable, name changes, debt ridding upon others followed by the relining of ones pockets is immoral and unethical - at least in my book. LordLilliput

6:30pm Mon 23 Dec 13

Gastines3 says...

In reply to My Lord. It seems a system that is well used and I expect we could all name at least 6 local companies that have done this to the Directors advantage,usually a Wife,Brother or family member taking over.About time HMRC put a stop to it and sold all assets for the benefit of creditors.I know HMRC take precedent but the Insolvency Practioners seem to do very well out of it.
In reply to My Lord. It seems a system that is well used and I expect we could all name at least 6 local companies that have done this to the Directors advantage,usually a Wife,Brother or family member taking over.About time HMRC put a stop to it and sold all assets for the benefit of creditors.I know HMRC take precedent but the Insolvency Practioners seem to do very well out of it. Gastines3

7:43pm Mon 23 Dec 13

carrrob says...

Legalised fraud yet again !
Legalised fraud yet again ! carrrob

11:16pm Mon 23 Dec 13

LordLilliput says...

carrrob wrote:
Legalised fraud yet again !
Succinctly put.
[quote][p][bold]carrrob[/bold] wrote: Legalised fraud yet again ![/p][/quote]Succinctly put. LordLilliput

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