Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Plumbers merchant UK Plumbing Supplies has bought the Enfield branch of North London-based 140-year old building and plumbing merchant Fayers Plumbing & Building Supplies after the latter entered administration.
The joint administrators of Fayers are Sarah Cook and Andy John of FRP Advisory Trading Limited.
The plumbing, heating, sanitaryware, and building supplies merchant was founded in 1884 and has branches in Enfield, New Barnet, Buckhurst Hill, and on the Caledonian Road in King’s Cross. The Barnet and Buckhurst Hill branches also operated “Just Add Water” bathroom showrooms.
The appointment of the administrators followed a strategic review after challenging trading conditions meant the business was not sustainable in its existing form.
The Joint Administrators have now completed a pre-packaged sale of the Enfield branch and certain assets to UK Plumbing Supplies Limited. The transaction includes the transfer of 19 employees assigned to the Enfield branch under TUPE.
The remaining branches have ceased trading and 20 employees have been made redundant. A further three employees are supporting the Joint Administrators with the orderly wind down of the remainder of the business.
Cook, Joint Administrator and partner at FRP, said: “Fayers is a long-established business that has served trade and commercial customers across London and the South East for more than a century.
“Following a period of challenging trading, the business was no longer sustainable in its existing form. We are pleased to have secured a sale of the Enfield branch to UK Plumbing Supplies Limited, preserving continuity for that part of the business and 19 roles, despite the sad loss of the other branches and their staff.
“Our immediate priority is to support those affected, while completing an orderly wind down of the remaining operations and realising the Company’s assets in the best interests of creditors.”
