Online building materials supplier Building Supplies Online has gone into administration today (June 20).
David Shambrook and Sarah Cook of FRP Advisory were appointed as Joint Administrators to Building Supplies Online Limited on Monday 20 June 2022.
Building Supplies Online was an online supplier of building materials to trade and public. The business, which employed 13 staff at its headquarters in Banbury, experienced stock availability issues and constraints on cashflow in recent months.
Despite efforts to sell the business and secure fresh investment, a viable deal could not be secured and the business had no choice but to appoint Administrators. On appointment, Building Supplies Online ceased trading and all staff were made redundant.
The Joint Administrators will now progress with the orderly winding up of the business and its operations and move towards an asset sale.
David Shambrook, Partner at FRP Advisory and Joint Administrator, said: “Retail businesses are battling difficult economic conditions with inflation and supply chain issues putting real pressure on their ability to operate. Without the prospect of investment, Building Supplies Online was unable to continue trading and, regrettably, all employees have been made redundant. We will now be supporting employees with claims to the redundancy payments service while seeking to maximise returns to creditors.”
Any customer enquiries should be directed to: email@example.com
The company was formed in 2013 and was acquired by the Cairngorm Capital private equity firm in 2017. Cairngorm Capital is also the investment partner behind Independent Builders Merchant Group and National Timber Group.
Supplier brands listed on the company’s website are: Armitage Shanks, Atlas, Blanco, Celotex, Forest, Grohe, Gyproc, Ideal Standard, JB Kind, Knauf, LPD Dorrs, Marshalls, Roca, Rockwool, Superfoil Insulation, Velux and XL Joinery.