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Homeform Group, which consists of Moben Kitchens, Sharps, Kitchens Direct and Dolphin Bathrooms, looks set to be put into administration by private equity group owners Sun European Partners.
The group have filed with the Court a Notice Of Intention to Appoint an Administrator, with the expectation that the company will be Deloitte. This is a process that can take up to ten working days. Though I feel this will be sped up to give the group as much of a chance possible to rectify their current predicament.
In total the group employees 1300 staff, with an additional 1500 self employed fitters. Staff have been told to go home today. A worrying sign that the health of the business is in a very bad way. There are also concerns for customers who have placed orders with the companies involved. Will they get their money back if their installations aren’t carried out?
The home improvement market has been one of the worst sectors hit during these harsh economic times. The business body CBI has reported that 85% of home improvement business have recorded a decline in sales in June – usually one of the peak months of the year.
The group have filed with the Court a Notice Of Intention to Appoint an Administrator, with the expectation that the company will be Deloitte. This is a process that can take up to ten working days. Though I feel this will be sped up to give the group as much of a chance possible to rectify their current predicament.
In total the group employees 1300 staff, with an additional 1500 self employed fitters. Staff have been told to go home today. A worrying sign that the health of the business is in a very bad way. There are also concerns for customers who have placed orders with the companies involved. Will they get their money back if their installations aren’t carried out?
The home improvement market has been one of the worst sectors hit during these harsh economic times. The business body CBI has reported that 85% of home improvement business have recorded a decline in sales in June – usually one of the peak months of the year.
