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Lens company is saved from administration

Oakhill Optical Laboratory has been brought out of administration after being sold to a new company established by its former owners

Lens company is saved from administration
Oakhill Optical Laboratory has been sold by its administrators, bringing the Midlands-based business out of administration.

FRP Advisory, which was brought in last month to secure a buyer for the company after it was hit by tough trading conditions, confirmed that the laboratory’s former owner had established a new company and purchased the business.

In order to make the purchase, Oakhill Optical Limited was established by Stephen Lea and Jamie Sawyer.

The sale secures the jobs of all 20 staff employed at the laboratory, while it also ensures the business will continue to trade.

Oakhill Optical Laboratory supplies ophthalmic lenses to an estimated 120 opticians across the UK and Ireland, manufacturing around 2,000 lenses a week. The newly created Oakhill Optical retains all customers of Oakhill Optical Laboratory, including Boots Opticians.

Gerald Smith (pictured), partner and joint administrator at FRP Advisory, said: “This is great news for Oakhill Optical with all jobs secured under new ownership and the business’ customers both served as normal through the administration and their long term needs met thanks to a successful restructuring of this important lens supplier.

“With a new ownership structure in place, the business can now look forward once again to expanding its operations, whilst continuing to serve its array of key vital customers including Boots and all supported by the continuity of management that the exit from administration has allowed.”

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