Leicestershire-based Aqualux Products has been placed into administration with the loss of 18 jobs.
Volatile trading conditions in the home improvement sector and inflationary pressures were given as the main reasons why the company has been placed into administration.
Raj Mittal and Ben Jones of specialist business advisory firm FRP Advisory were appointed as Joint Administrators of Aqualux Products Limited on 29th August 2024.
Founded in 1979, the Hinckley-based company manufactured bathroom products, specialising in premium glass shower screens and enclosures.
The joint administrators are now focused on marketing the remaining assets including the Aqualux brand and IP, while helping impacted employees with their claims to the Redundancy Payments Service.
Raj Mittal, partner at FRP Advisory and joint administrator of Aqualux, said: “Aqualux Ltd is a well-regarded brand having a presence in the sector for almost 40 years. Unfortunately, due to the impact of the cost-of-living crisis on the home improvement sector and ongoing financial pressures owing to material cost inflation, the business was no longer able to keep trading.
“We’re now focused on the marketing of assets for sale and providing support for all impacted staff with their applications to the Redundancy Payments Service.”
At this time, the official status of Aqualux’s sister company Aqata is uncertain, however, its accounts are also overdue and it has a notice to strike off at Companies House date September 3. We will update this story as soon as we have more.
Since it was acquired from Dutch bathroom group Fetim in 2019, Aqualux was owned by the AQ Group, with bathroom industry veteran Steve Lee as CEO and chairman. In October 2020 it added the Aqata brand to the portfolio.