Margin erosion forces web dealer into liquidation

Thames Valley’s website is still operational, though telephone lines are set to voicemail.Thames Valley’s website is still operational, though telephone lines are set to voicemail.

Online dealer Thames Valley Catering Equipment has entered liquidation due to erosion of margins as a result of the Brexit decision, among other factors.

Low product ratings given by customers on Google plus a sizeable debt as a result of a customer entering liquidation also contributed to the insolvency.

Alan Brian Coleman and Julie Webster of Manchester-based Royce Peeling Green were appointed as the joint liquidators on 9 May 2017 for the purposes of voluntarily winding up the Oxfordshire-headquartered firm.

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The liquidator stated to Catering Insight: “Thames Valley Catering Equipment’s director attributed liquidation to low product ratings given by customers on Google; a bad debt of £20,000 as a result of customer entering liquidation; the change in Government policy in relation to free school meals, which reduced sales to local authorities; as well as an inability to compete with larger online distributors.”

Thames Valley’s directors were recorded as Simon and Rosaria Wratten, though according to the latest Companies House information, Simon resigned his position on 3 April this year.

Catering Insight tried to contact the distributor, but has so far been unable to reach anyone.

According to Thames Valley’s latest publically-available accounts, for the year ending 31 March the company recorded a turnover of £514,357, but with a £61,131 loss, compared to 2016’s financial year of £544,380 turnover and a £3,759 profit.

The dealer supplied brands including DC Products, Lincat, Sammic, Foster, Pitco, Maidaid, Robot Coupe and Blizzard.

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2 Comments

  1. Wholesaler said:

    Another ‘bedroom boy’ bites the dust – selling equipment for no profit! Also how come the director resigned a month prior to calling in the receivers? Does this indicate that he knew what was going to happen and got out beforehand so that he can open up again leaving all his suppliers to carry the debt? If he does perhaps he should remember “turnover for vanity – profit for sanity” start making a profit on sales and perhaps we can all survive!

  2. Stefan Szoka said:

    Items can be bought online sometimes for less than trade price. Perhaps bricks & mortar dealers will be able to claim free rates on their premises soon, now that they are almost a charity.

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