12 March 2013
I was shocked but not surprised to hear this morning that Breckenridge Conservatories has entered an insolvency procedure and called a meeting of its creditors. This is the kind of company that gives our industry a bad name. It is less than than five years since an earlier incarnation of this company with the same ownership went down owing a lot of money, only to be reborn days later after a “pre-pack” administration.
I don’t yet know how much they owe this time, but I would not be at all surprised to see them restart very shortly. This is actually the third insolvency that I am aware of under the Breckenridge trading name, and sadly the innocent public will be unaware of this history when they see the glossy adverts and web site. Having been in business myself for the last thirty years I have every sympathy with anyone who has put their life’s work into a company only to see it fail, especially in the difficult economic times we currently face.
However I think the system that allows owners to shed debt and restart with a new vanilla company the same day and then use the same trading name is immoral, especially if members of the public lose money. The Conservatory and Home Improvement industry in general is particularly prone to these risks so if you thinking about a home improvement project, make sure do do your research thoroughly.