Housewares supplier calls in administrators for second time in three years but is already in talks with an “interested party”.
Restructuring specialist MCR confirmed today that it has been appointed by Typhoon, as the company enters into administration.
MCR’s Paul Williams and Philip Duffy were appointed joint administrators by Typhoon yesterday, when it is believed a number of the company’s employees were also informed of the decision.
Speaking to DIY Week, MCR’s Paul Corlett explained that the administrators are currently working with an interested party and will “hopefully complete a sale shortly”.
A staff member who wished to remain anonymous informed HousewaresLive.net and sister website diyweek.net that around 40 members of staff at Typhoon’s Chessington head office and Lincoln warehouse were informed of the administration and sent home yesterday afternoon with no further information about the future of their jobs at the company.
However, Mr Corlett said that there had been no redundancies within the company and that, as the appointment was still very new, it was impossible to provide any more information at this stage.
Typhoon went into administration in April 2007, laying off most of its 89-strong workforce. It cited a breakdown in its relationship with chef Jamie Oliver’s licensing operation, Fresh Retail Ventures as one of the reasons for collapse but was later saved by founder Peter Battersby, who bought the company’s assets and was appointed chairman.
This month Typhoon announced the launch of a range of woks and bamboo cooking accessories by TV chef Ching He Huang.