Double Glazing Sees Green Deal Boost
Thousands of jobs are at risk at home improvement giant Homeform Group after its owner filed its ‘intention to appoint administrators’ for the firm.
On June 23 Homeform’s backers, US private equity firm Sun Capital Partners, announced that the company would enter administration – just one day after launching a £12 million advertising campaign aimed at revamping its Kitchens Direct brand.
Homeform employs 1,300 people staff at 160 showrooms nationwide, as well as subcontracting to around 1,500 self-employed fitters and designers, and owns major brands such as Kitchens Direct, Dolphin Bathrooms and Moben Kitchens.
Days later, reports emerged that Homeform’s directors were planning to buy back parts of the company ¬¬– without any associated debts – in a move known as a ‘pre-pack’ administration. The brands to be purchased are thought to be Kitchens Direct and Sharps, which may be headed by ex-MFI boss Chris Pavlosky.
This news reflects the difficult climate for the home improvement sector, which has been hit by both a fall in house prices – meaning less homeowners are likely to invest in significant renovations – and the tightening of disposable income due to inflation.
In June, the Confederation of British Industry said that 85% of firms operating in the sector had reported a decline in sales during the month.
For more information on double glazing windows, including Everest, Safestyle, Zenith and Anglian windows reviews, visit the Double Glazing – the home improvement forum.
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