Everest 2020 Limited - Case Update

Chris Farrington, Cameron Gunn and Lee Manning of Resolve, the joint administrators of Everest 2020 Limited, have reached an agreement with an alternate supplier to fulfil the company’s customer orders.

Hertfordshire-based window and door specialist Everest 2020 Limited was one of Britain’s largest double-glazing suppliers, employing approximately 350 people. It entered administration on 24 April, marking the second administration for the company in four years, after continuing to face financial difficulties as a result of the COVID-19 pandemic.

On their appointment, the joint administrators assessed all available options, including a prospective sale of the business as a going concern. Unfortunately, no going concern offer materialised in the time available, and the majority of the company’s employees were made redundant on 29 April. Evolve has been engaged to assist ReSolve in providing support to those employees.

Fortunately, a deal was reached with Anglian Home Improvements to fulfil customer orders. While the agreement is finalised, the joint administrators have entered a sub-contractor arrangement to ensure customers impacted by Everest’s insolvency will have the opportunity to finish their home improvement projects. Anglian has pledged to honour the terms of the customers’ contracts with Everest, including the agreed price for the work.