Fusion Glass Limited, which entered into administration on 27 September with the appointment of Joint Administrators Jason Baker and Geoff Rowley, partners at FRP Advisory LLP, the specialist restructuring, recovery and insolvency firm, has been sold for an undisclosed sum to Chelsea Artisans (Contracting) Limited.**Fusion Glass, which designs decorative glass for large scale architectural projects and one-off commissions for clients including Berkeley Homes, Laing O'Rourke and Morgan Lovell, went into administration following the economic downturn in the construction sector. **Following their appointment, the Joint Administrators secured a refinance, enabling the business to be traded through administration while a buyer was sought.**Commenting on the deal, Jason Baker said: "The construction sector was one of the biggest casualties of the recession and Fusion Glass suffered the knock-on effects.
Ultimately, trading losses led to severe cashflow difficulties which, in turn, led to the business' insolvency.**
2010-10-18T13:00:00FRP Advisory LLP facilitates acquisition of Fusion Glass by Chelsea Artisans glassonweb.com