BC12 Better Capital Pcc Limited

TIDMBC12 TIDMBCAP

RNS Number : 1766P

Better Capital PCC Limited

05 June 2020

Better Capital PCC Limited 2012 Cell

5(th) June 2020

Reconstruction of the Everest Business

The General Partner of BECAP12 Fund LP ("Fund II") has informed Better Capital PCC Limited (the "Company") that through a pre-packaged administration certain of the assets, including the order pipeline of Everest Limited have been sold to a new trading company, Everest 2020.

This has been financed principally by Fund II which has invested GBP3.2m into the creation of the new business. It is likely that the next accounts of the Fund will therefore reflect a material write-down of the valuation of the Everest investment.

This transaction protected over 400 jobs and provides for the completion of existing window and conservatory orders. Installation operations restarted on Monday.

 
  Enquiries: 
 Better Capital PCC Limited 
  Norman Amey                  +44 (0) 1481 742 742 
 
 Numis Securities 
  Nathan Brown                 +44 (0) 20 7260 1426 
 

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(END) Dow Jones Newswires

June 05, 2020 13:08 ET (17:08 GMT)

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