Martin Lewis' MSE issues double glazing warning and says 'no longer valid'

James Rodger

14 May 2024 at 0:26 pm·2-min read

Martin Lewis' Money Saving Expert has warned home improvement and double glazing company Everest has stopped trading after falling into administration. BBC and ITV star Mr Lewis' site warned Everest, also known as 'Everest 2020', fell into administration on Wednesday 24 April 2024, with business advisory firm ReSolve appointed to oversee the process.

ReSolve has been unable to find a buyer for the business as a whole, so the majority of Everest's staff have been made redundant. Over 1,500 Everest customers have unfulfilled orders, according to ReSolve.

“As of 2 May 2024, the joint administrators agreed a contract with Anglian Home Improvements to fulfil Everest 2020 Ltd customer orders," ReSolve warned. "Anglian will contact all Everest customers in the coming weeks to confirm details and arrange a visit to discuss the possible completion or fulfilment of orders.”

A pre-pack administration, which took place in June 2020, salvaged hundreds of jobs and paved the way for the fulfilment of existing customer orders. 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".

Everest, which has been owned by the prominent financier Jon Moulton's investment firm Better Capital for more than a decade, called in administrators back in April. Mr Moulton, one of the City's best-known turnaround specialists, has been winding down Better Capital for years, with Everest one of its few remaining investments.

MSE said: "Any warranties promised by Everest – such as its "20-year guarantee" on its windows and doors – are no longer valid due to it falling into administration. If your items were installed or sold by Everest and they become faulty or damaged going forward, you can put in a claim to ReSolve, but there's no guarantee you'll get any money back."

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Martin Lewis' MSE issues double glazing warning and says 'no longer valid'

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