Markerstudy swoops on Auto Windscreens as staff axed

Trifords Limited, part of the Markerstudy Group of companies, has acquired the brand name of Auto Windscreens.

The deal was announced on the same day administrator's Deloitte confirmed that 1,042 Auto Windscreens staff have been made redundant after failing to get an offer for the business as a whole.

Other assets bought include the Chesterfield head office, other freehold and 19 leasehold sites, and the right to use the Auto Windscreens brand name.

Auto Windscreens fell into administration on February 14 after running out of cash.

Joint liquidator Chris Farrington said: “Our focus at the outset was to seek funding for a trading period and to run an intensive marketing period in an attempt to save the business as a going concern. We approached the major customers to seek urgent funding but unfortunately none of these customers were able to assist in the circumstances.

"Whilst the intensive marketing process resulted in over 90 expressions of interest, no party made an offer for the business as a whole. In the absence of any funding and no going concern offer, we have had no alternative but to close the business, leading to 1,042 staff being made redundant.”

Deloitte said the sale of the Markerstudy Group of certain assets will enhance realisations to the company’s creditors.