Tue, 03 Jul 2012 | ADMINISTRATION
Health food retailer Julian Graves has appointed administrators from Deloitte to take stock of its financial position.
The business is keen to avoid job losses where possible, but it is feared that several hundred employees could lose their positions at the business, which is the sister company of Holland & Barrett.
Chris Farringdon, joint administrator from Deloitte, commented: “The first priority of the joint administrators is to assess the financial position of the company and consider the options available.
“It is the joint administrators’ intention, therefore, to continue to trade the business whilst these options are explored. Accordingly, no redundancies are currently proposed and all employees’ wages will be met and paid as normal.”
The administration of the business has not come as a huge surprise to those in the industry as the sector has seen competition mount over the past few years. Other health food stores have opened, while supermarkets have expanded their own ranges and online businesses, such as Amazon, have been able to offer a wider range of supplements.
Jonathan De Mello, head of retail consultancy CBRE, told the Retail Gazette that there are all sorts of new competitors “muscling in on what was traditionally a space occupied by Julian Graves and a handful of others”.
Operating across North Yorkshire, the company has two divisions, one that provides IT infrastructure and one offering renewable energy solutions, including solar PV systems and electric vehicle charging points.
The group specialises in supplying and installing UPVC windows, doors and conservatories in a wide array of styles. Bespoke bathroom panelling and high-quality guttering products are also provided by the two companies.
The company is a well-regarded specialist provider of hygienic wall, floor, and ceiling cladding systems. To complement its core supply of PVC cladding, the business offers hot welded joints to prevent the build-up of bacteria and can supply stainles...
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