GLAZING company Sharda Glass has been sold in a deal that saves 65 jobs, but the future of Hayes & Yeading FC’s unfinished stadium remains uncertain.
The glass specialist, whose offices are in Beaconsfield Road, Hayes, is now called CCPE Architectural Glass.
It was bought by Consensus Capital Private Equity Ltd, following interest from several buyers.
The company signed a stadium naming rights deal with Hayes and Yeading FC in December 2012, and the new ground would have been called the Sharda Glass Stadium, but what a difference a year makes.
There had been ‘business problems’ before Sharda went into administration last month, after a ‘sharp deterioration’ in its financial position which put 65 jobs under threat.
The football stadium being built in Beaconsfield Road was due to be finished in time for the start of the 2011/12 season, but the project has been plagued with problems from the outset and there is still no definite completion date.
Only one stand is complete and no work has been done since last summer, as Hayes & Yeading FC negotiates with builders over payments. Money for naming rights now seems a distant dream, and the stadium’s future is unclear.
Club chairman Tony O’Driscoll told the Gazette he would be speaking to Hayes & Yeading’s legal team today (Wednesday) for an update on the stadium.
The club plays in the Conference South division, and for now, shares a ground with Woking FC at their Kingfield Stadium in Surrey.
Eric Walls, from insolvency firm KSA Group which handled the administration, told the Gazette: “We endeavoured to try and find a non-administration solution.
“However, the scale of the debts and the business problems meant that this option was not available.”
Sharda Glass was a specialist supplier of flat and coated glass to the construction and industrial sectors.