Norwich-based dealer Catershop has been forced to call in an insolvency practitioner, after kitchen schemes in the oil and gas sector were cut, according to MD, Richard Todd.
He told Catering Insight: “It has been an unfortunate incident. Catershop started the year well, but one of our specialist sectors, oil and gas, has run into trouble and many of our projects got cancelled.
“It was a difficult decision but we wanted to take action as soon as we knew something was wrong, as we didn’t want to build up unnecessary debts.”
Todd detailed that Catershop is doing everything it can to finish off the projects it currently has on its slate, to settle with as many creditors as possible.
At the moment that is the firm’s main concern, but Todd was unsure what would happen in the future.
The insolvency company looking after the case, McTear Williams & Wood, will hold a meeting for the distributor’s creditors at its offices in Crown Road, Norwich on 28 June at 11.15am.
The meeting is also for the purpose of appointing a liquidator and for creditors to appoint a liquidation committee, should they wish to do so.
Catershop was due to celebrate its 20th anniversary early next year.
The firm designs and installs innovative and contemporary commercial kitchens and marine galleys, and its team has a collective 150 years of accumulated industry experience.
As well as the marine sector, the distributor also focuses on education, hospitality, business and care sector projects.
Furthermore, the company produces a range of height-adjustable tables, sinks and cooking equipment lifting platforms under its Hydralift brand.