Major auction of insolvent kitchen manufacturer to take place
22 June 2023A major auction of equipment from insolvent kitchen manufacturer Pembar Trading Ltd (trading as Hatt Kitchens) will take place in early July.
The Hartlebury-based company went into adminstration on May 15, with Lee Causer and Mark Thornton of BDO LLP appointed joint administrators of the company.
Auction House Gordon Brothers if offering for sale a large range of CNC and traditional woodworking machinery on behalf of the joint administrators, including Biesse, Anderson, Homag, Casadei, SCM, Giben and Brandt machines, as well as carass presses, shrink wrappers, pallet racking and three forklift trucks.
Viewing will be on July 4 with bidding to close on July 6. To view go to AUCTION.
According to Pembar’s most recently filed accounts at Companies House – filed in March, 2023 but relating to the financial year ended April 30, 2022 - the business focused on contract kitchen work with housebuilders and high-rise developments.
It identified raw material costs/availability and distribution costs as a risk to the business's profitabilty, “especially with construction delays seen this year being the main reason for the loss made”.
Pembar made a £329,000 loss before tax for the period from an £11m turnover.
Despite this, directors said its budget for 2023 looked promising and its accounts to January 2023 showed the business stabilising. They had forecasted the business to bounce back over the next two years despite the downturn in 2022.
