Mansfield-based online dealer Shop-Equip has become the latest dealer to head into insolvency.
The firm posted on its website: “Unfortunately, the current economic climate has taken another casualty. It is with the deepest regret that the long established Shop-Equip Limited has now been placed in administration.”
Shop-Equip’s website message encouraged users to contact equipment manufacturers or wholesalers direct for any queries relating to their appliances.
While Shop-Equip didn’t reveal its full accounts for the year ended 31 December 2017, its last annual report detailed: “2017 was a very challenging year with sales growth in excess of 39% but with a detrimental impact on margin alongside increased advertising spend resulted in only a small increase in profit before tax.”
However, the dealer’s strategy clearly did not go to plan, as the directors also stated at the time: “Market indicators suggest that significant sales growth is achievable throughout 2018 and with ongoing price stability there is potential for further sales growth in 2019. With overheads remaining static other than advertising spend with an improving return on investment we are confident of improving profitability in the short to medium term.”
Directors are currently recorded as Lee Noble, Jonathan and Paula Hall, and Adrian Rickersey.
The dealer detailed that it constantly checked its prices to get the best possible. On its website it stated: “We will aim to beat any genuine quote or published price on our full range of over 30,000 items of commercial equipment.
“Simply tell us where you found the product cheaper, and we’ll get back to you with a quote as soon as possible.”
Shop-Equip was established in 1989 as a regional retail equipment supplier and evolved to become distributor of commercial catering equipment, commercial refrigeration, retail equipment and shopfitting supplies.
Over 30,000 products were available to buy online, with brands including Atosa, Axon Enterprises, Blue Badger, Blue Seal, Cater-Bake, Classeq, Counterline, DC Products, E & R Moffat, Electrolux Professional, Foster Refrigerator, Gamble Foodservice Solutions, Hobart, Hoshizaki, Hubbard Systems, IMC, Instanta, Lincat, Linda Lewis Kitchens, Maidaid Halcyon, Marco Beverage Systems, Metcalfe Catering Equipment, Pantheon Catering Equipment, Parry, Pentland Wholesale, Project Distribution, RH Hall, Rational, Uropa Distribution, Robot Coupe, Roller Grill, Sammic, True Manufacturing and Williams Refrigeration.
Shop-Equip also had its own manufacturing facilities where it developed and offered a range of catering furniture, retail furniture and display cabinets.
Its customers range from small, independent family businesses to medium and large enterprises, including private and public organisations such as councils, schools and health authorities.
Catering Insight has so far been unable to reach Shop-Equip for comment.