CONSERVATORY and glazing company Complete Seal Windows (North East) has ceased trading and is being run by administrators from accountants Tenon.
The Gateshead company, with headquarters on Tenth Avenue West, Team Valley Trading Estate, has been operating for 16 years and until this year appeared to be in a healthy position.
The most recent accounts available for the company, up to October 31 last year, show Complete Seal enjoying sales of almost £1.9m, up 5.5% year on year.
The company recorded a pre-tax profit of more than £148,000 in the period, though that followed a very small loss of just £762 in 2006.
One clue to the company’s problems is provided by the fact it was owed almost £400,000 at the end of the period, up almost 50% in a year from under £270,000 in 2006. It is not known how many staff the business employed when Tenon was called in, but it was employing as many as 60 in the recent past.
A creditors’ meeting for the business will be held on Wednesday, December 10, at 11am at Tenon’s offices next to the A19 in Sunderland.
Nobody from Complete Seal Windows (North East) or Tenon was available to comment yesterday.