News

Safestyle UK Appoints Administrators

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4.7

Andrew R. Michaud

• October 30, 2023

Safestyle UK, a door-and-window manufacturer, has recently made the decision to appoint administrators due to a number of factors impacting its business. As a result, approximately 680 out of the 750 employees have been made redundant, while the remaining employees will be kept on in the short-term.

Appointment of Administrators

Interpath Advisory has been appointed as administrators by Safestyle UK. This decision comes after the parties involved in the company's proposed sale withdrew their interests, leading to the suspension of shares from trading on Friday.

Impact on Subsidiaries

The board of H.P.A.S. Ltd., Safestyle UK's main trading subsidiary, has determined that it can no longer sustain operations. As a result, a notice of intention to appoint administrators has been filed for H.P.A.S., Style Group Holdings, and Style Group UK.

Retention of Safestyle Workers

Interpath Advisory has chosen to retain approximately 70 Safestyle employees in the short-term to assist with an orderly wind-down of the business.

Contributing Factors

Safestyle UK's failure can be attributed to a combination of high cost inflation, ongoing economic uncertainty, and fragile consumer confidence. Additionally, the unseasonably warm weather in September resulted in reduced consumer demand for their products.