Charles Henshaw & Sons, a long-standing envelope specialist, has filed for administration due to several financial challenges.
- The company, founded in 1904, encountered difficulties with legacy contracts and delays from main contractors, leading to a loss-making situation.
- With a turnover of £18.5 million, down from the previous year, the company reported a significant pre-tax loss.
- Efforts are underway to find a buyer for the business, with the aim of preserving its reputation and safeguarding jobs.
- Administrator Shona Campbell is focused on maintaining employee welfare and finding interested buyers for the company’s assets.
Charles Henshaw & Sons, established in 1904 as a decorative architectural metalworking company, has recently filed for administration due to mounting financial troubles. The Edinburgh-based firm encountered significant issues with legacy contracts and delays from main contractors, which ultimately rendered the business loss-making.
Over the years, the company expanded its services to include the design, fabrication, supply, and installation of building facades for various sectors, including commercial, residential, and public buildings. In 1982, it launched a division dedicated to aluminium-glazing systems, providing innovative solutions such as curtain walling and windows. Notable projects included contributions to iconic sites like Usher Hall in Edinburgh and major railway stations in Glasgow and Edinburgh.
Despite their commendable work and solid industry presence, the company faced a challenging financial landscape in recent years. In its financial report for the year ending 31 January 2023, the company noted a turnover of £18.5 million, a decrease from £21.4 million the prior year, with a pre-tax loss of £3.9 million.
Graham Chung, the firm’s managing director, expressed deep regret over the situation, highlighting the company’s esteemed reputation and the dedication of their highly skilled workforce. “Henshaw cladding solutions have set industry standards,” he stated, appreciating the craftsmanship and notable projects that have shaped UK skylines.
Administrator Shona Campbell from Henderson Loggie emphasised her commitment to protecting the welfare of the 72 employees facing potential redundancy. She noted the intention to find a prospective buyer for the company’s assets to preserve its value and reputation. Campbell remarked that despite the company’s strengths, escalating costs, problematic contracts, and delays in new projects had exerted significant pressure on the business.
The future of Charles Henshaw & Sons now hinges on finding a suitable buyer to continue its legacy.
