Swadlingcote-based dealer Pico Catering Projects has filed for liquidation with immediate effect and has therefore ceased trading.
The firm was the brainchild of experienced industry executive Tim Keating, who spent 14 years at Hobart before establishing Pico in 2011.
Keating told Catering Insight: “This unfortunate event has come about through lack of financial resources to carry on with the business after several bad months of trading.
“Recent business losses such as a £400,000 equipment order for a large client, a sole supply agreement to 2,000 sports clubs lost when the purchasing consortium collapsed and a pub group multiple kitchen refurbishment programme was cancelled.
“All of these cost multiple man hours and subsequently haven’t returned any revenue.”
Keating detailed that virtually no suppliers should be affected by the company’s collapse, as there were no outstanding debts.
He is now taking some time to look at his next steps, which could include a senior sales role.
Over the years the kitchen design house has completed projects for Cadbury World, Bournville; the LG Arena, Birmingham; the Stratford Riverside Project; and the Northwood Garden Centre in Newcastle-Under-Lyme.
The firm sold brands including Hobart, Comenda, Lincat, Welbilt, Lainox, Moffat, Nilfisk and Animo.
It also offered appliance leasing and ran an online sales arm called Special Offer Catering Equipment.