Steve Absolom and Nick Holloway from Interpath Advisory were appointed joint administrators of Hitchcock & King Enterprises Limited on 31st July 2024.
Trading as Hitchcock & King for more than 50 years, it is a well-known builders and timber merchant operating from six sites across London in Ashford, Burgh Heath, Fulham, Hammersmith, Streatham and Twickenham.
Liquidators were appointed to Hitchcock & King Limited in September 2020 and March 2023.
Interpath Advisory said that the company had faced difficult trading conditions in recent times, including the impact of rising costs and decreasing margins. Over recent months, the directors had sought to explore options, including a sale of the business, but a solvent solution was unable to be found. The directors therefore took the decision to seek the appointment of administrators.
The joint administrators will continue to trade the business for a short period just to sell remaining stock and explore other options for the broader business. They have retained 37 employees to assist them in trading but 27 have been made redundant.
Steve Absolom, managing director at Interpath Advisory and joint administrator, said: “Whilst Hitchcock & King will remain open for business in the short term to clear through the stocks of building supplies, there’s no doubt that this is an extremely sad day for this long-running family business and its team of hard-working, loyal employees.
“We will providing support to all those impacted by redundancy, including supporting them in making claims to the Redundancy Payments Service.”
Hitchcock & King Enterprises Limited turned over £13m in 2023, down from £16m in 2022.
