Everest windows feared to be on brink of collapse with 700 jobs and orders worth £20m at risk
DOUBLE-glazing giants Everest are on the brink of folding with 700 jobs at risk, it is claimed.
The windows firm is feared to be on the verge of collapsing after the coronavirus crisis savaged business, putting contracts worth more than £20 million in jeopardy.
⚠️ Read our coronavirus live blog for the latest news & updates
Everest has suspended all operations during the coronavirus pandemic and said to be on the verge of administration.
A message on the company's website, dated May 14, said it hoped to restart operations "very soon".
But Everest is now believed to be in talks with potential buyers to offload contracts as it battles to survive, .
The news comes as Chancellor Rishi Sunak warned Britain faces a "severe" recession, the likes of which the nation has never seen before.
EVEREST 'TIPPING POINT'
A source said Everest "was in trouble before Covid, but this has been a tipping point".
The company's 700 workers and customers' appointments are now thought to be under threat.
An announcement on Everest's future is expected in the coming days, it is reported.
Customers had previously been advised that all appointments were cancelled, with the firm insisting it would contact people "as soon as we can".
CORONAVIRUS CRISIS - STAY IN THE KNOW
Don't miss the latest news and figures - and essential advice for you and your family.
To receive The Sun's Coronavirus newsletter in your inbox every tea time, .
To follow us on Facebook, simply .
Get Britain's best-selling newspaper delivered to your smartphone or tablet each day - .
The note on the company's website dated from last week reads: "Unfortunately our manufacturing, installation and customer service functions all remain closed with the aim of keeping our staff and customers safe.
"Following the Government statement that allows manufacturing companies to begin working, we are currently planning to restart operations very soon.
"Sadly as our work involves visiting customers' homes and many of our staff work in teams we are currently having to delay this restart until we can take all possible measure to protect our staff and customers."
Everest has been contacted for comment.
Unfortunately our manufacturing, installation and customer service functions all remain closed with the aim of keeping our staff and customers safe.
Message on Everest website
The coronavirus lockdown has ravaged the UK economy, with Mr Sunak painting a bleak outlook for jobs.
The number of people claiming unemployment benefits has soared to 2.1 million, rising by 856,500 in April.
And the number of people relying on the Government's furlough and self-employment schemes is now an eye-watering 10 million.
Mr Sunak painted a bleak picture for the future as he warned of "long term scarring" to the economy.
ECONOMY SAVAGED BY VIRUS
He told MPs yesterday: "I certainly won't be able to protect every job and every business, we're already seeing in the data there will be more hardship to come.
"Lockdown is having a significant impact on our economy and we are likely to face a severe recession the likes of which we haven't seen (before).
"Of course that will have an impact on employment."
In 2012, Hertfordshire-based Everest was bought by private equity firm Better Capital.
MOST READ IN NEWS
In the 1980s, Everest's memorable TV commercials, fronted by Derbyshire farmer and former Brain of Britain contestant Ted Moult, became well-known in UK households.
Adverts showed Moult dropping a feather from behind Everest's draught-proof double glazing as a helicopter took off outside.
The slogan, which became one of the decade's most memorable, advised Brits to: “Fit the best, fit Everest.”