World’s Oldest Conservatory Brand Bought by Everest
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by: forum.doubleglazing1
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Amdega, the world’s oldest conservatory manufacturer which recently went into administration, has been bought by Everest for an undisclosed sum. Everest will now trade under the Amdega title, which has a history dating back to 1874.
The brand name was sold by KPMG, the administrators responsible for disposing of Amdega’s assets to pay off the conservatory maker’s debts. Under the deal, Everest will not be responsible for Amdega’s 300 outstanding orders, and the double glazing firm has no plans to bring back any of the jobs lost in Darlington when the company went under.
Amdega’s137 year history came to an end this April when the company went into administration, resulting in the loss of 188 of the 197 jobs and leaving many of its conservatory orders unfilled. Some of those orders could potentially cost up £150,000.
“When administrators come in, they try to sell off any assets with the view to try and raise funds for all who are owed money,” a spokesperson for KPMG said. “The brand name is one of those assets. They have sold the brand name Amdega to Everest.”
“Naturally, we are very pleased with this acquisition,” said managing director Andrew Stanway of Everest’s conservatory division. “Conservatories represent an important part of our business and adding a major brand name like Amdega allows us to strengthen and extend our existing offering of high end conservatories.”
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