Safestyle also confirmed that it was anticipated that admission to trading on AIM of the company's ordinary shares would be cancelled. Earlier this week, administrators for Safestyle said the business had made around 680 of its workers redundant. The company failed after facing a series of pressures, including runaway inflation and poor consumer confidence, administrators said. The unseasonably warm weather in September also affected demand for its products.
'Given the liquidation process which is now expected to commence, Safestyle is not currently pursuing such a transaction and it is therefore anticipated that once liquidators have been appointed, the admission to trading on AIM of the company's ordinary shares will be cancelled.” On October 30, Interpath Advisory said around 70 of the door and window maker’s 750 employees would be kept on in the short term to help wind down the business.