Administration for Auto Windscreens
Tuesday 15 February 2011
Auto Windscreens, the windscreen repair and replacement firm, has gone into administration, putting 1,100 jobs at risk.
The company ran into difficulties after suffering delays in the implementation of IT systems, which, together with lower-than-expected revenues in the final quarter of 2010, led to cash-flow pressures.
Although it was in funding talks, Auto Windscreens received a wind-up petition from a major creditor, and also had contract-termination notice from a major customer, before a deal could be agreed. Deloitte, which was appointed as administrator last night, said currently there were no funds to "be able to continue to trade the business".
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