The housewares industry has reacted with shock to the news that housewares distributor Typhoon International went into administration on Friday April 27.
Administrator Singla & Co was appointed by Typhoon's debenture holders, which include Watchdale Systems, Sunhurst, Clydesdale Bank, and Lloyds Bank.
Typhoon's latest accounts, for the year to October 2005, don't disclose turnover, but reveal a steady rise in profits, with the company trading profitably in both 04/05 and 03/04.
The company employed 89 staff according to the latest accounts. Most of them have been laid off, with only a skeleton team remaining at the Chessington, Surrey, head office while discussions continue about its future.
A spokesperson said there has been considerable interest in the business, and it is expected to be sold as a going concern.