Indigo Products Ltd, the £18million fabricator for Brian Kennedy’s defunct Kairos brands including Zenith and Weatherseal, has been taken out of administration into a Creditors’ Voluntary Liquidation.
The decision was made after administrators unexpectedly discovered sufficient funds for distribution to unsecured creditors after realisation of the company’s assets.
These included sale of physical assets to companies including nearly £200,000 from sales to Customade Group Trading and its Polyframe Norwich business.
The administrators’ final report to creditors says they had not originally anticipated raising enough assets for a distribution but moved to a CVL after realising sufficient assets for the distribution as well as paying preferential creditors in full.Indigo Products Ltd had fabricated for Kairos window brands Zenith, Weatherseal, St Helens Glass, St Andrews Glass and Penicuik Home Improvements when the £75million group approached administration.
https://www.the-glazine.com/WeeklyFolders/glazine22october2019/brian_kennedys_75_million.htm
