Giles & Posner, best known as a supplier of chocolate fountains, has gone into administration.
The Watford-based company, which sold to the catering industry as well as the retail market, was not only the UK originator of the commercial chocolate fountain but also supplied a range of quirky small appliances to cookshops such as candy floss makers, cupcake maker, pie maker and popcorn machines.
Fred Satow, joint administrator with Paul Davis of chartered accountants MHA MacIntyre Hudson, told HousewaresLive.net that they hoped to sell the business – which employed 11 people – as a going concern.
“The two directors [Darren Giles and Hitesh Patel] have been laid off by the administrators, but no one else,” he said.
He went on: “It’s a seasonal business. The company fulfilled the majority of its orders pre-Christmas and we as administrators are reviewing trading at the moment.”
Giles & Posner was set up in 2001 by chefs Darren Giles and Justin Posner. It has an extensive list of trademarks, patents and licences and sells its products around the world.
It has a blue chip customer base, and developed own-label products for high street retailers and shopping channels including Thorntons, Aldi and QVC.
Satow said that there had been “a lot” of interest in the company.
“We’re hopeful of achieving a going concern sale of the Giles & Posner business, given its international brand and reputation. This will help to protect the jobs of employees and maximise realisations for creditors. Interested parties should contact me as soon as possible.”