JP Distribution, the Yorkshire-based distributor of kitchen and bathroom products, has appointed administrators after an MBO collapsed.
Kbbreview understands that managing director Graham Bucktrout was close to securing the company but financial backing was pulled when the market fell away at the start of lockdown.
Bucktrout joined the company in a turnaround role two years ago.
JP Distribution has now ceased trading and Francis Graham Newton and Simon Edward Jex Girling of BDO LLP were appointed joint administrators on Wednesday (July 1).
They are now tasked with either finding a buyer for the company or, failing that, to divide it up and sell assets off piecemeal. Anyone interested should contact [email protected].
The majority of employees are already on furlough and administrators say they should contact ERA Solutions with any questions using [email protected] or 01827 383531.
Creditors are being told to send queries to this email: [email protected]
JP Distribution was founded 40 years ago by John Beckingham and Peter Bence. When Peter Bence retired, the company remained in the hands of the Beckingham family.