Garage Doors News
14.07.09
Cardale Garage Doors Group includes Steeline - Wessex - Henderson Garage Doors - Cardale Garage Doors.
Simon Thomas and Fred Sartow of RSM Bentley Jennison & Co LLP were appointed Joint Administrators of the Company on the 14th of July 2009. They can be contacted on 0207 920 3200. The Administrators are continuing to trade the business of the Cardale Group of companies with a view to selling the business as a going concern.
The Administrators act as agents without personal liability.
Cardale, founded by Roy Sibley in 1945 originally began manufacturing garage doors in 1964, and in 1968 Cardale Doors Limited was established.
Cardale Doors Limited today is still a privately owned British company and has been dedicated to manufacturing quality garage doors for the last 40 years.
Over those 40 years Cardale has brought many innovations and firsts to the garage door industry:
- With head offices at Brackley and Manufacturing facilities at Brackley, Luton, Scunthorpe and Verwood, and a distribution depot in Glasgow.
03/010/09
Henderson Garage Doors grows stronger in the UK!
Henderson Garage Doors, based in Bowburn, County Durham has been purchased by a private company, Bowburn Ltd part of the Cardale Group from the Swedish Cardo AB Group.
The acquisition comes after two weeks of uncertain times for employees of the company who were put on consultation notice on 15th December 2008. Bowburn Ltd is owned by Nick Sibley whose portfolio also includes other garage door related investments, most notably the British manufacturer Cardale Garage Doors Ltd.
This purchase has secured the future for the majority of the 150 jobs at the plant where garage doors will continue to be made and is a much needed boost for the north east economy.
Vicky Brockley, Managing Director of Henderson Garage Doors commented, “Morale has remained high over the Christmas period and I am pleased to be at Henderson today where business is as usual at the start of the 2009. In this difficult climate, it provides the opportunity to build a good foundation in order to take this business forward and strengthen the Henderson brand.”
P C Henderson Ltd will continue to manufacture Sliding Door Gear in the UK and Republic of Ireland under the Cardo AB Group umbrella. This separate company will employ around 50 people from the existing business.
The ‘Henderson’ name has become a hallmark for enduring quality in the UK, where more than 3 million Henderson garage doors have been installed. Henderson Garage Doors are distributed through builders’ merchants, garage door specialists and Henderson Supercentres. Henderson Supercentres are a retail network of purpose built showrooms which display working models of doors in brick surrounds to ‘bring the outdoors indoors’ giving customers a real feel of how a garage door should look on their homes.
Nick Sibley, Director of Bowburn Ltd said “This was the perfect opportunity for me to own the two leading British manufacturers of garage doors in the industry and strengthen both brands in the UK whilst maintaining the customer service and quality of products that customers expect.”
2009 marks the 40th year for manufacture at the Bowburn plant and the 88th year for the company as a whole which was founded by Percy Cecil Henderson.
Cardo disposes of garage door production operation in UK
As part of a plan to reduce production capacity and cut costs, Cardo entered into consultation in December affecting 150 people at its garage door production unit in Bowburn. Instead, this operation is now being disposed of to Bowburn Ltd, which intends to continue producing garage doors at the unit.
Bowburn Ltd is acquiring assets relating to garage door production in Bowburn and taking over responsibility for human resources and products supplied, in return for which Cardo is paying Bowburn Ltd approximately SEK 6 million. The cost of the disposal, which will be charged to Cardo’s earnings for 2008, is estimated to amount to approximately SEK 43 million, whereof approximately SEK 36 million in impairment losses.
Cardo continues to own the rights to the Henderson brand. Under a licensing agreement, Bowburn Ltd is entitled to use the brand when selling the type of garage doors that was manufactured at Cardo’s factory in Bowburn.
Apart from garage doors, Cardo’s division Residential Garage Doors also manufactures sliding door gear in Bowburn. Manufacture and sales of sliding door gear will not be affected by the disposal and Cardo will continue with this activity.
The disposal is expected to give a positive effect on Cardo’s earnings 2009 of approximately SEK 15 million.
Malmö, Sweden, January 2 2009
Cardo AB (publ)
CARDO GOES INTO CONSULTATION AFFECTING UP TO 150 PEOPLE IN RESIDENTIAL GARAGE DOORS DIVISION IN UK
Consultations with union representatives have begun.
Apart from garage doors for the UK market, the factory in Bowburn also manufactures sliding door gear. This unit is considered a sustainable business for Cardo going forward.
Malmö, Sweden, December 15 2008
Cardo AB (publ)
