Kitchen firm may be sold

Jul 8 2008 by Karen Dent, The Journal

THE administrator called in by a family-run kitchen company employing 14 people says he is hopeful the business can be sold as a going concern.

The Gateshead Kitchen Company appointed Theodoulos – known as Pat – Papanicola of Bond Partners LLP as administrator on June 16.

He licensed the business to another company, allowing it to continue trading and ensuring employment for staff while negotiations with a potential buyer are taking place. “I’m very hopeful a buyer can be found,” he said.

Mr Papanicola said it was difficult to say whether the company’s problems had been caused by the economic slowdown but that it had not helped.

The Gateshead Kitchen Company was set up more than a decade ago and specialises in creating and fitting bespoke, hand-built kitchens.

Meanwhile a kitchen and cookery equipment retailer, which has two stores in the North East, has been placed in administration.

ProCook Limited, which trades as The Professional Cookware Company, sells goods online and via 39 stores, including a shop in the MetroCentre at Gateshead and at Royal Quays in North Shields.

Richard Hill and Joff Pope of KPMG Restructuring have been appointed joint administrators of the business, which was set up in 1993 and employs 261 people.

Mr Pope said: “Unfortunately the rapid expansion of the company into the high street has coincided with a time of tough trading for the retail sector, which means the business has hit problems.

“Trading will continue as normal whilst we seek a buyer for the business as a going concern.”