Everest is so far saying nothing about widespread press reports that it is being put up for accelerated sale ‘to relieve creditor pressure’.
Specialist consultants Alvarez & Marsal set a deadline for offers, which is set to expire by the end of this week.
The news comes only six months after the retailer bought the Evolution timber alternative division of UK Windows and Doors Group (UKWDG) from administrators https://www.the-glazine.com/?p=10786.
In 2020, the company re-emerged as Everest 2020 via pre-pack administration with its backer Better Capital.
Documents issued by Alvarez & Marsal with the current sale offer said the business: “requires an immediate funding injection to relieve creditor pressure which, combined with further significant investment in its marketing, systems and brand, can deliver increased market share, and a path to strong underlying profitability and growth”.
The Glazine has approached Everest for comment and so far had no reply.
