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Naiglan Holdings Business Restructure

With business opening and closing on a weekly basis, it has become important for companies to know when they need a restructure. This will assure that businesses that are not doing as well as expected will raise their profits, or in the least limit their losses. One such business who has begun a restructure is Anglian Windows, a sub company of the Naiglan Holdings Group. Anglian Windows has been struggling in the face of a slump in consumer demand and a slowdown in the housing market and has announced that it will be moving out of its Horsford Manor headquarters as part of a restructuring plan designed to make the business more competitive. It has embarked on a series of measures to drive down costs, improve efficiency and increase sales, which the company says are starting to bear fruit.

Figures published today show that Anglian`s parent company, Naiglan Holdings, reported an operating loss of ?485,000 for the year to the end of April 2, 2005, compared with a profit of ?19.4m a year earlier. When interest charges were added in, Naiglan reported a pre-tax loss of ?12.5m compared with a profit of ?3m the year before. Turnover also fell, down to ?277m from ?311m in the previous period, as fragile consumer confidence hit sales of conservatories and windows. In Norwich, Anglian is moving its senior management team out of Horsford Manor to the company`s main factory site in Anson Road.

As part of the restructuring plan Anglian has decided to close down its loss-making kitchens business. The division, called Living Design, was based in Scotland and sold kitchens through a network of agents. David Rimmer, Anglian`s deputy executive chairman, said it had been losing money for a number of years. `It was acquired in 1994 and to be honest it had been struggling for some time,` he said. They have been scaling it back for the past three or four years and have decided to close it.