Bids to buy the Fairview Architectural business have included a fully funded rescue package by FVA Group (which includes key managers from Fairview), who currently holds the licence to supply and honour specific warranties for Fairview’s range of products.
A number of entities have expressed an interest in acquiring Fairview – and its broad product portfolio – which is currently operating under the administration of Grant Thornton.
FVA Group has now formally submitted a binding Deed of Company Arrangement (DOCA) that includes undertakings to pay every genuine company creditor in full, save all of the company’s 52 regional jobs, as well as plans for future acquisition and growth.
Grant Thornton may wish to extend its administration period of the company – by three to eight weeks – to permit full due diligence on the Fairview business, by key stakeholders and creditors.
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