‘Various concerns’ interested in The Professional Cookware Company

Interest has already been shown in The Professional Cookware Company, following the retail chain’s lapse into administration yesterday.
Joint administrator Joff Pope of KPMG told HousewaresLive.net that it was too early to say which parties might be in the running to rescue the company.

But he confirmed: “We have had interest already; various concerns have come forward to us. We’re reasonably positive because people see it as something they may want to bolt on to their existing business or invest in.

“We’re looking to protect the jobs, protect the supply chain and move the business forward,” he added.

Speaking to HousewaresLive.net yesterday evening, Pope said that KPMG still had to get to grips with the business. “We’ve only been in there today, and the full extent of the company’s demise will come out in due course.”

He said the retailer’s troubles had stemmed from over-ambitious expansion: “The business was looking to grow, and it expanded at a time when sales were not going in line with it. It overstretched itself and there isn’t any more cash to keep the business going.”

Pope added: “If anybody has an interest in purchasing all or part of the business please contact us as soon as possible.” KPMG’s phone number is 020 7311 1000.

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