Independent bathroom and kitchen distributor Cooper Callas has gone into administration, blaming the loss of a key supplier as the main reason for its decision.
Mark Boughey and Matthew Haw of RSM Restructuring Advisory LLP have been appointed as joint administrators and will be assisting with the redundancy claims.
Forty-one people out of a workforce of 68 at the 140 year old company have been made redundant.
“The significant loss in sales was too great a gap to bridge in the limited time available, with every effort being made to secure the future of the company and its workforce,” Cooper Callas managing director Philip Carr said. “During 2015 the company returned to profitability after several years of losses, underlining the hard work and dedication of all members of staff.”
Administrator Mark Boughey of RSM said: “Earlier this year, Cooper Callas suffered the loss of a key supplier that accounted for around 25% of its turnover. Despite the efforts of the directors and other key stakeholders, it was not possible to secure the necessary additional funding and investment that was required to meet the resulting trade losses and shortfalls in working capital.
“Regrettably, a number of redundancies have been necessary, and we are working closely with the managing director and the remaining workforce to oversee an orderly wind-down of the business.”