Optiplan Kitchens Limited (05303766): administration
- Status
- Administration ended
- Administration began
- 2022-11-30
- Administrators
- Philip Joseph Dakin, James Saunders, Michael Lennon
- Administrators' firm
- Kroll
- Incorporated
- 2004-12-03
- Location
- Manchester
- Industry
- 47789 Other retail sale of new goods in specialised stores (not commercial art galleries and opticians)
Why it went into administration
- COVID-19
- Rising costs / inflation
- Weak consumer demand
- Supply chain disruption
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
During the Company's 38 years of trading, it became one of the UK’s primary kitchen designers, manufacturers and retailers with long periods of growth and sustained profitability.
In 2016, the Company was acquired by Home Décor GB Limited and continued to operate as an independent subsidiary.
As a result of the COVID-19 pandemic, sales dropped significantly due to showroom closures and delays in construction projects. The Company’s financial difficulties were compounded due to supply chain issues, caused by a backlog from the COVID-19 pandemic and later the war in the Ukraine, as well as rising costs for materials and labour which could not be passed on to customers. This resulted in the Company’s liquidity suffering and this position became unsustainable despite ongoing financial support from the Company’s immediate parent Company. In addition, the cost of living crisis and inflation impacted the spending habits of retail customers.
Administrators' statement of proposals (2023-01-30) · Companies House register