Kettle Home Ltd, a furniture wholesaler based in Corby, Northamptonshire, has gone into liquidation for the second time in two years, we reported last week. The BBC now shares the reasons behind the company's downfall, resulting in the loss of 80 jobs.
Photo: Dreamstime.
Kettle Home began operations in April 2023 following the previous administration of Kettle Interiors, struggled due to the ongoing impact of the COVID-19 pandemic and rising shipping costs. Liquidators from Begbies Traynor have been appointed to manage the situation and ensure that former employees receive their entitlements promptly.
The joint administrators, Kevin Mapstone and Yiannis Koumettou, cited the challenges facing the retail furniture sector as contributing factors to the company's insolvency. They emphasised that the inability to cover operational costs rendered the business unsustainable. All employees, including both part-time and full-time staff, have been made redundant due to the insolvency.
Source: www.bbc.com