Apple Home Improvements provided a range of windows, doors and conservatories to homes across the UK.
Business advisory firm Quantuma has advised on the sale of home products company Apple Panels Ltd, which traded as Apple Home Improvements, to conservatory and door supplier, County Windows (Winchester) Ltd.
Based in Bournemouth and founded in 2000, Apple Home Improvements provided a range of windows, doors and conservatories to homes across the UK. The company had showrooms in West Parley, Southampton and Weymouth, and a turnover of £11m.
Andrew Watling and Simon Campbell of Quantuma were appointed administrators to the company on 23 January 2019, and immediately completed a pre-pack sale of the business and assets to Winchester-based County Windows.
The sale is set to safeguard outstanding customer contracts and enhance recoveries for the benefit of creditors.
The enlarged group will trade as County Windows from its existing head office in Winchester. The company will relaunch branches in Southampton and Bournemouth, with a trading catchment from Weymouth to Chichester, and up to Guildford.
Andrew Watling, a partner in Quantuma’s Southampton office, commented: “This long-standing local business appears to have been affected by a combination of challenging market conditions and difficulties with accessing working capital from financiers in a timely manner.
“We were originally engaged to advise on the liquidation of the company, as unfortunately it had ceased to trade before Christmas, with the loss of 34 jobs. However, as we became more involved with Apple Panels it became clear that there were several other companies who were interested in its work in progress and contracts. Because of the particular circumstances involved, the value of these were diminishing on a daily basis, and so we embarked on a period of marketing and subsequently received a number of offers from potential buyers.
“By seeking our advice and expertise, the director of Apple Panels ensured that we were able to find a solution that should improve the outcome for many creditors and consumers – a positive result for the region.”
The Quantuma team was assisted by solicitors Steele Raymond, and quantity surveyors Kinetica Consult.
Rebecca Thomas, MC2
0161 236 1352
Notes to Editors
Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. Offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol, Manchester, Ringwood and Weymouth. In July 2018, the firm opened two international offices in Cyprus (Nicosia and Paphos).