Derby investment firm rescues handrail manufacturer from administration

shutterstock.com/Natee Meepian

Derby-based Argento Investments, has vowed to restore customer confidence after rescuing Walsall company, Stainless Handrail Systems (SHS), from administration.

The Middlemore Lane West-based company, which supplies products including glass balustrades, balconies and canopies, was plunged into crisis when administrators were called in in January 2020.

All monies, services and products, including deposits for orders, were lost, leaving customers and suppliers across the country frustrated and angry, but SHS has now been bought out of administration by Argento Investments, saving 35 of 52 jobs in the process.

Now Lee Whittaker, partner in Argento Investments, has promised to restore confidence in Stainless Handrail Systems by trying to honour as many orders made to the old company as possible, even without the deposits in place.

“Stainless Handrail Systems had a fantastic reputation and we believe we can restore that, starting customers’ existing orders wherever possible,” he added. “All money paid to the previous company by customers has been lost, but we will still attempt to fulfil every order we can.

“We are currently reaching out to customers who were left disappointed – and temporarily out of pocket – by the collapse of the old company. There will be a transition period, so it will take some time for orders to be investigated, confirmed, fabricated and delivered.

“This is a completely new management team, unrelated to the previous ownership. We have experience of helping distressed businesses such as this one to turn around and become successful once more.”