The industry churn continues as it has been announed Totali Timber Solutions Limited is to be liquidated. This is the latest in a string of high profile fenestration casualties which ended 2019 and saw in the new year.
This was the statement put out on The Gazette yesterday:
Credit: The Gazette
Links to their social media profiles no longer exist.
This follows FGS, Cambrian Windows, Premier Trade Frames and others which have closed as the industry appears to be going through a very rocky patch right now.
To me this very much feels like a bad hangover from 2019. January and February are traditionally the worst months for cash flow, so unfortunately I don’t see this as the end of the rough patch. Others could go in the next few weeks. The previous 12 months were bad overall for the fenestration industry. There were bright spots with individual companies of course, but if you speak privately to people and have a bit more of an honest conversation its clear that 2019 was not a good year. The effects of which are now spilling over into the new year.
All that being said, I still firmly believe that 2020 will be a much better year. Business and consumer confidence is back up, political uncertainty has cleared up for the most part. There is much more reason to be optimistic for trading this year. I think we have to ride out the next couple of months which is traditionally one of the worst periods for the industry, and from there we can build towards a successful 2020.
You can find the notice on The Gazette here.
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