A major UK kitchen brand has announced it has ceased trading with immediate effect after more than two decades in business. Kaboodle confirmed today that it has stopped trading and appointed insolvency specialists BRI Business Recovery and Insolvency to facilitate the company's voluntary liquidation.
The company provided home appliance supply and installation services for retailers and manufacturers across five depots. Since its founding over 20 years ago, Kaboodle had opened facilities in Highbridge, Basingstoke, Stevenage, Telford, and Leeds.
Official Announcement
Kaboodle stated: "We regret to inform you that Kaboodle Ltd has ceased trading with immediate effect. Insolvency Practitioners, BRI Business Recovery and Insolvency, have been instructed to assist in placing the Company into Creditors' Voluntary Liquidation."
The statement continued: "You will be contacted from them directly in due course in relation to the liquidation process, including details on how to submit a claim for any monies owed, as applicable. If you currently hold stock with us, please arrange for collection as a matter of urgency."
Reactions from Leadership
Commercial Director David Simpson expressed his sadness on LinkedIn, writing: "I'm sad to formally advise that Kaboodle is to be liquidated as a result of cash constraints. My thoughts and appreciation go to all those employees involved in the insolvency - it's a distressing time for all. I'd also like to thank our manufacturing and retail customers for their loyalty."
He added: "We were charged with restructuring the business to dedicate ourselves to the Home Installation market some time ago, meaning that we needed to exit our Housebuilder sector."
Former Managing Director Matthew Pitt also commented: "Sad to hear the news about the closure of Kaboodle today. It's very disappointing to see a business with strong foundations end up in this position. There are a lot of talented people affected, and I hope they're supported through what will be a difficult period."
