Deal To Take Over Blairs Ltd Falls Through

Bespoke timber window manufacturer Blairs Ltd remains in receivership after it was confirmed that an agreement could not be reached between the receivers and Performance Timber Products Group (PTPG) to buy the assets and trade of the Greenock-based company.

A spokesman for PTPG said: "With regret, PTPG is unable to secure a future for Blairs Limited following a brief period of due diligence."

Blairs Ltd had been battling the effects of the economic downturn and on 6th January, Fiona Taylor and Colin Dempster of Ernst & Young LLP were appointed as Joint Receivers. A spokesman for the Ernst and Young confirmed that they are still seeking a buyer and have re-established contact with interested parties:

"There are other interested parties who came late to the table, so the receivers have been in contact with them to see if a deal can be agreed going forward. The ideal time to do a deal is within the first days or weeks of the company going into receivership. Unfortunately, the chances of securing a sale have now diminished. A small number of staff will be kept on to maintain the site, as a successful sale still remains the most desirable course of action."