Anglo ERI Limited, a Cambridgeshire manufacturer of shop display equipment and fittings, has gone into administration with Grant Thornton UK LLP appointed as joint administrators.
The £28 million turnover firm based in St Neots is part of the Estrella Group and counts Arcadia, GAP and Next amongst its customers. Appointments have also been made over Estrella Group Limited, ERI Limited, Radius Interiors Limited, CDM Shopfitting Limited and CDM Displays Limited.
Anglo ERI Limited, which employs 120 permanent staff and uses significant contract labour, has suffered as a result of challenging market conditions affecting the group.
The joint administrators are evaluating Anglo ERI Limited’s financial position and are in discussion with customers to seek to fulfil orders to enable to the company to continue trading.
Ian Carr, partner at Grant Thornton’s Cambridge office who is handling the administration with fellow partner David Dunckley, said: “We are seeking the support of customers, suppliers and employees to enable trading to continue while a potential buyer is sought. However, this is obviously a worrying time for all those involved with the business, especially the employees.”