A national company with workers across County Durham, Teesside and North Yorkshire has gone into administration - leaving its future hanging in the balance and hundreds of jobs in jeopardy.

One of Britain's biggest double-glazing suppliers, Everest, confirmed it had gone into administration on Wednesday (April 24).

The brand, which has been owned by the prominent financier Jon Moulton's investment firm Better Capital for more than a decade, has appointed ReSolve administrators to handle the process.

In a statement on its website, Everest said: "Chris Farrington, Cameron Gunn and Lee Manning of ReSolve Advisory Limited were appointed as Joint Administrators of Everest 2020 Limited (“Everest”) on 24 April 2024.

"If you have any queries about the business and/or administration, please contact everest2020@resolvegroupuk.com.

"Chris, Cameron and Lee are licensed to act as Insolvency Practitioners in the United Kingdom by the Institute of Chartered Accountants in England and Wales and, along with their staff, act without personal liability at all times.

"Licenced Insolvency Practitioners who are appointed as Administrators, and their staff, act as agents of the company over which they are appointed."

It's believed that Everest is trying to engage with a buyer for the company to save as many of the business's 350 employees.  

Everest have fitters in Durham, Middlesbrough, Newcastle, Northumberland, and parts of North Yorkshire. 

It's not known at this time whether any jobs in the North East are in trouble, or whether the fitters are directly employed by Everest themselves.

According to reports, Mr Moulton has been winding down Better Capital for years, with Everest one of its few remaining investments.

According to information circulated to potential bidders by a different firm of advisers several weeks ago, Everest "requires an immediate funding injection to relieve creditor pressure which, combined with further significant investment in its marketing, systems and brand, can deliver increased market share, and a path to strong underlying profitability and growth".