Published on 1 - October - 2012
Hardman Isherwood goes into administration with HI GroupThe electrical products distributor Hardman Isherwood has gone into administration, along with its parent HI Group and a number of the group's other subsidiaries.
Hardman Isherwood distributes electrical products across the UK
The tough market and resulting problems with cash flow have been blamed on the failure of the group and its eight companies.
Based in Normanton, West Yorkshire, HI Group is a family business set up over 35 years ago which primarily imports and distributes electrical consumer products - mainly white goods - to the retail market.
It also has two complementary divisions: a nationwide home delivery business which offers warehousing, logistics and delivery of goods to end consumers across a range of market sectors; and a service business that provides electrical warranty repairs and services.
Hardman Isherwood is the largest centralised independent national distributor in the UK, supplying more than 3,500 electrical SKUs to retail outlets across the UK, Ireland and Channel Islands.
Along with white goods, it supplies a full range of small appliances such as kettles, toasters and irons, along with floor care products, heating and lighting products, microwave ovens and pressure washers.
Sales at the company fell from almost £33m in 2008/09 to £25.9m in 2010/11.
The other HI Group subsidiaries in administration are: Crown Corporation (UK); Fridgemaster Corporation; Frigidaire Consolidated; HI International; HI Investments; Independent Service (Domestic Appliances); and Whitwood Warehouse.
Hi-Way Express Home Delivery has been sold to Pacifica Group, an electrical repair, warranty and servicing company based in the north east.
Sam Woodward, joint administrator from Ernst & Young LLP, said: "In recent years the group has suffered from challenging market conditions which has seriously impacted the group's white goods business. As a result, turnover has declined, resulting in severe cash flow difficulties."
Ernst & Young has made 109 redundancies as a result of the administration, and is now seeking offers for the remaining parts of the group.
Mr Woodward added: "The group represents a traditional and prominent business in the area and we are grateful to all the group's loyal employees, customers and suppliers for their continued support".
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