Berg advised the administrators at Duff & Phelps Ltd (formerly MCR) to secure the sale of the business and assets of Apropos Tectonic Limited in time to save 63 jobs in the New Year.
Apropos Tectonic, which was placed into administration before Christmas, ran into difficulties after funding research and development for its sister company, Atelier Modular Limited. Atelier failed to repay this investment and went into liquidation, leaving
Apropos Tectonic unable to pay its debts as they fell due.
Duff & Phelps, with the assistance of Berg, negotiated the sale of the business and assets of Apropos Tectonic as a going concern to Apropos Vitral Limited, a vehicle backed by the MD of Apropos Tectonic, Michael Barnes, thus securing the jobs of over 60
It is understood that Apropos Vitral hopes to still benefit from the research and development undertaken for Atelier by incorporating some of the innovations made there into its product range. New orders are now being taken.
Anne-Marie Goodfellow of Berg said: "I am pleased to have helped the administrators achieve a positive result for the benefit of the staff at the start of a New Year".
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