A MANGOTSFIELD-based window and door supplier has gone into liquidation.
The Voice reported in December that Panoramic’s showroom in Richmond Road had shut after the company ceased trading on November 11, after 47 years in business.
Its nine employees were made redundant.
Accountants PKF Francis Clark have now confirmed that partners Nicholas Harris and Lucinda Coleman have been appointed joint liquidators, following the company’s decision to enter creditors’ voluntary liquidation.
A spokesperson for the accountants said: “Incorporated in 1981, Panoramic Limited built a strong reputation as a manufacturer and later as a specialist supplier of high-quality windows, doors, conservatories and roof installations.
“In 2020, the business underwent a management buy-out, with ambitions to expand its product range and grow its position in the local market. For several years after this, the company continued to trade successfully. However, by late 2024, competitive pricing pressures and rising costs significantly impacted profitability.
“Despite promotional campaigns and efforts to secure additional funding, sales declined and cashflow forecasts indicated the company could not meet its financial obligations.
“The company’s intellectual property and order book were sold prior to the liquidators’ appointment.
“Following their appointment in December, the liquidators are working with Gavel Auctioneers & Valuers to sell its remaining assets – including showroom fittings, vehicles, plant and machinery – to realise value for creditors.”
Mr Harris said: “Our immediate priority is to ensure an orderly winding down of Panoramic Limited’s affairs and to communicate with all creditors, including customers who have paid deposits. We will also review the company’s financial position and transactions leading up to the liquidation as part of our statutory duties.”
Creditors can contact PKF Francis Clark at business.recovery@pkf-francisclark.co.uk.