An island-registered glazing firm is to be wound up following a meeting of creditors and shareholders.

Liquidators have been appointed to oversee the winding up of Everest (Isle of Man) Ltd.

It ceased trading immediately following the collapse of the UK parent company Everest 2020 Ltd which went into administration on April 24 this year.

A meeting of members and creditors of the island subsidiary was held remotely on July 1 when it was resolved that the company be wound up voluntarily.

Ben Woodthorpe and Chris Farrington of London-based corporate restructuring firm ReSolve have been appointed joint liquidators.

The name of the company is to be changed from Everest (Isle of Man) Ltd to EIOM Realisations Ltd.

Everest was registered at Hope Street, Douglas but operated from a unit on the Kirby Farm industrial estate off Vicarage Road in Braddan. It had six employees who were all made redundant before the liquidators were appointed.

The company had no known assets and a small number of creditors who will receive no dividend due to the company’s financial position.

It is not known how many island-based customers have been affected by the firm’s collapse but more than 1,500 customers had unfulfilled orders with Everest 2020.

A statement of affairs drawn up by the administrators show that the UK company collapsed with debts of £15.8m. It owed customers more than £8.79m and employees £3.5m.

Almost 300 creditors have lodged a claim.

Assets have been sold to Anglian Home Improvements which has agreed a contract with joint administrators to fulfil customer orders. It was not the first time the Everest brand had gone into administration - it was saved in a rescue deal in 2020.