Everest Ltd, which re-emerged earlier this year as Everest 2020 via pre-pack administration via its backer Better Capital, left unsecured debts of £54.6million, including nearly £45m to the backer’s BECAP12 fund, according to the recently published Statement of Affairs.
The deal was announced in June this year after the company had posted a £9.3million operating loss for 2018 based on a 7% drop in revenue to £105million.
The bail-out transaction, financed principally with £3.2million from the BECAP12 Fund LP, was said to protect more than 400 jobs as well as enabling the new company to complete existing window and conservatory orders after installation was restarted following the Covid shutdown.
The Statement of Affairs in full is posted at Companies House.
