Window and door company Safestyle UK has gone into administration resulting in the loss of nearly 700 jobs.
Consultants from business management firm Interpath Advisory have been appointed joint administrators.
Related companies Style Group Holdings Limited and Style Group UK Limited have also been placed into administration.
High cost inflation, ongoing economic uncertainty and fragile consumer confidence had impacted trading performance, Interpath said.
Customer demand was also dampened by an “unseasonably warm September”.
Company directors appointed administrators after failing to sell the business or to get refinancing.
However, Interpath said it will continue to explore the possibility of selling certain business and assets to a third party.
It added the news will be “particularly devastating” for contractors working on behalf of the company, and its staff.
Safestyle had been one of the UK’s leading retailers and manufacturers of PVCu replacement windows and doors.
The Bradford business had 42 branches and depots across the UK and a large manufacturing facility in Wombwell, near Barnsley.
It directly employed 750 people, most of whom have now been made redundant.
Seventy staff have been retained by Interpath in the short term to help wind down the business.
GMB Union members protested outside Safestyle’s Wombwell site, with signs reading, “Where’s the money gone?”, according to the BBC.
All trading has now stopped.
“These are really challenging times for companies across the home improvement market,” said Richard Harrison, managing director at Interpath. “After seeing strong sales during the COVID lockdown periods, many companies are seeing trading being impacted by the cost-of-living crisis and soaring costs.
“Unfortunately for Safestyle, and despite the tireless efforts of the management team over recent months, these challenges have proven too difficult to overcome.
“This will be particularly devastating for the company’s employees, as well as the many self-employed contractors who worked on behalf of the company.”
Adding: “Our immediate priority will be to provide support to those impacted by redundancy, including supporting them in making claims to the Redundancy Payments Service where relevant.”
Was this interesting? Try Former Tideway project director to lead HS2 JV
If you have a tip or story idea that fits with our publication, please contact the head of news email@example.com
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.