Credit Crunch Takes it’s Toll on Double Glazing Firm
Anglian Home Improvements has been taken over by a syndicate of banks; in return they will reduce the company’s debt by £90 million.
Two of the company’s depots have been closed, and 100 of Anglian’s 1,000 fitting vans have been taken off the road.
Banks involved in the take over are: Bank of America Securities, Bank of Scotland, Barclays, BlueBay Investments, Lloyds TSB and the Royal Bank of Scotland. It’s interesting to note that the Royal Bank of Scotland, the second largest bank in Britain, is itself a casualty of the credit crunch, having just announced an unprecedented loss of £6 billion.
It is also interesting to note that, in April, Anglian appeared on the BBC’s Watchdog programme because of the number of complaints received about the company’s poor workmanship and customer service.
Well, there but for the grace and all that - but the Watchdog programme did make us feel rather superior. Quality, customer service, and honesty are our number one priorities.
Tags: credit crunch, double glazing, News