Kaboodle, which says it is the UK’s largest independent installer of white goods, is entering liquidation, just weeks after the company announced it would be pivoting away from the housebuilding sector entirely over “market challenges”.
Announcing the company’s closure on LinkedIn, commercial director David Simpson said: “I’m sad to formally advise that Kaboodle is to be liquidated as a result of cash constraints. My thoughts and appreciation go to all those employees involved in the insolvency, it’s a distressing time for all.
“I’d also like to thank our manufacturing and retail customers for their loyalty, we were charged with restructuring the business to dedicate ourselves to the Home Installation market some time ago meaning that we needed to exit our Housebuilder sector.”
However, Simpson also blamed the company’s collapse on Kaboodle’s largest client, adding: “As an SME and as in all businesses, cash flow is king and whilst most of our Housebuilder customers worked with us to clear debt, one in particular (our largest) acted generally in a disgraceful manner avoiding payment of substantial sums for goods and services provided which has resulted in our demise. This has in turn resulted in the loss of dozens of peoples’ livelihoods and the downfall of an otherwise viable business. To this customer, you should be ashamed!”
It is unclear what this news means for customers who still have outstanding orders with Kaboodle.
Kaboodle founder and former managing director Matthew Pitt, who left the company earlier this year, also addressed the news on LinkedIn, saying: “Sad to hear the news about the closure of Kaboodle today. It’s very disappointing to see a business with strong foundations end up in this position. There are a lot of talented people affected, and I hope they’re supported through what will be a difficult period.”
Pitt, a former installer, established the company in 2005. Over the past two decades, it has grown to become a white goods installation company with national scale, claiming to be able to fit kitchen appliances anywhere in the country thanks to its five depots. The company also said it directly employed more than 90% of its appliance installers, and operated an installation apprenticeship programme in partnership with North Hertfordshire College.
In related news, kbbreview spoke to Pitt last year ahead of the company’s 20th anniversary, where he discussed the company’s wider role in the kitchen sector, as well as his belief in apprenticeships to secure the future of the industry.