Everest
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Everest was a UK home-improvement company founded in 1965 and headquartered in Cuffley, Hertfordshire, best known for double-glazed windows and doors. It traded on the slogan 'You only fit the best, fit Everest' and operated 18 distribution centres and two manufacturing sites in Sittingbourne, Kent, and Treherne, Wales.
02 / Everest FAILURE REASONS
Failure reasons
Everest collapsed twice within four years. In 2020, the COVID-19 lockdown effectively closed the business, creating extreme financial pressure that pushed Everest Limited into administration on June 8, 2020. Rescued in a pre-pack deal by Better Capital as Everest 2020 Limited, the business remained loss-making: in the year to May 31, 2022 it reported turnover of 51.1 million GBP but a pre-tax loss of more than 1.6 million GBP, with total liabilities near 4.8 million GBP. Unable to secure the funding injection needed to relieve creditor pressure, Everest 2020 Limited entered administration again on April 24, 2024, putting around 350 jobs at risk.
03 / EVENT HISTORY
Events in the structured record
- Founded
Everest was founded in the UK, becoming a household name in double glazing.
- First administration and rescue
Everest Limited entered administration on June 8, 2020 after the COVID-19 lockdown closed the business; 188 jobs were cut and the operations were immediately sold in a pre-pack deal to Better Capital, saving 413 jobs as Everest 2020 Limited.
- Loss-making accounts
Everest 2020 Limited filed accounts showing 51.1 million GBP turnover and a pre-tax loss of more than 1.6 million GBP for the year ended May 31, 2022.
- Second administration
Everest 2020 Limited entered administration on April 24, 2024 with ReSolve appointed; around 350 jobs were at risk and the administrators sold certain assets to Anglian Home Improvements to fulfil customer orders.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Reported a pre-tax loss of more than 1,600,000 GBP (about $1,978,560) for the year ended May 31, 2022, with total liabilities near 4,800,000 GBP.
- 02
Entered administration on June 8, 2020; the business was sold the same day in a pre-pack deal to Better Capital, with 188 jobs lost and 413 safeguarded.
- 03
Entered administration again on April 24, 2024; administrators sold certain assets to Anglian Home Improvements to complete outstanding customer orders.