A UK kitchen specialist has ceased trading with immediate effect after entering creditors' voluntary liquidation.
The company, Kaboodle Ltd, which operated since 2005, supplied kitchen appliances and installation services for retailers and manufacturers across the UK, with depots in Leeds, Highbridge, Basingstoke, Telford and Stevenage.
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In a statement published on its website, Kaboodle confirmed that BRI Business Recovery and Insolvency had been appointed to assist with the liquidation process. Customers and creditors are expected to receive further communication regarding claims for outstanding monies.
The company said it had previously restructured its operations to focus on the home installation market after exiting the housebuilder sector. However, it blamed severe cashflow pressures and unpaid debts from a major customer for contributing to the collapse.
In its statement, Kaboodle claimed that while most housebuilder customers had worked with the business to settle debts, one unnamed major client had failed to pay substantial outstanding sums for goods and services provided.
The company said the situation ultimately led to the loss of jobs and the downfall of what it described as an otherwise viable business.
The collapse adds to ongoing pressure across the UK interiors, kitchens and home improvement sectors, where businesses continue to face rising operational costs, weakened consumer demand and tighter cashflow conditions.
Source: www.msn.com
