A NUMBER of parties have expressed interest in troubled Chesterfield-based firm Auto Windscreens which fell into administration on Monday, it has been revealed.
Administrators Deloitte said they are “progressing discussions with a number of these parties” but added it is too early to provide employees, creditors and other stakeholders with any definite news on the outcome of the talks.
Around 400 stunned staff at Auto Windscreens, which has its headquarters in Hasland and is one of Chesterfield’s biggest employers, were left devastated after learning the firm was in crisis this week - leaving their jobs hanging in the balance.
Deloitee said they would like to thank all employees for their patience and support.
Auto Windscreens, which employs around 1,100 people across the UK and is the country’s second biggest windscreen repair firm, called in the administrators, Deloitte, after suffering a cash flow crisis sparked by delays to the implementation of new IT systems and lower-than-expected sales revenues at the end of 2010.
On top of that, a major customer terminated its contract with Auto Windscreens and the company received a winding up petition from a large creditor. All these factors meant management was unable to continue trading.