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Reconstruction of the Everest Business

RNS Number : 1766P
Better Capital PCC Limited
05 June 2020
 

Better Capital PCC Limited 2012 Cell

 

5th June 2020

 

 

Reconstruction of the Everest Business

 

 

 

The General Partner of BECAP12 Fund LP ("Fund II") has informed Better Capital PCC Limited (the "Company") that through a pre-packaged administration certain of the assets, including the order pipeline of Everest Limited have been sold to a new trading company, Everest 2020.

This has been financed principally by Fund II which has invested £3.2m into the creation of the new business. It is likely that the next accounts of the Fund will therefore reflect a material write-down of the valuation of the Everest investment.

This transaction protected over 400 jobs and provides for the completion of existing window and conservatory orders. Installation operations restarted on Monday.

 

 

 

 Enquiries:

 


Better Capital PCC Limited

Norman Amey

 

+44 (0) 1481 742 742



Numis Securities

Nathan Brown

+44 (0) 20 7260 1426

 


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