Folkstone Fixings (FFX) placed into Administration

[firefinch]

A heads up to all as many of us have bought from FFX :

"
On 20 September 2024 Jane Steer, Tim Higgins and Toby Banfield of PwC were appointed as Joint Administrators (“Administrators”) of Folkestone Fixings Limited (“the Company”).

The Company is a tools and hardware retailer based in the South-East of England and traded from its own website and two stores based in Ashford and Folkestone.

Unfortunately, the Company’s financial position upon appointment means that it is no longer able to continue trading and as a result all stores and the website will cease to trade immediately.

The Administrators have retained a small number of employees at the Company's head office in Kent for a short time to support in winding down operations.

For all creditor enquiries please email: [email protected]

For all employee enquiries please email: [email protected]
"
https://www.pwc.co.uk/services/busi...jhbAh7oHOVqQNFgmoM_aem_Z_4W7-Sbm6xQTkle70_TXw

FFX is now in liquidation. Please try and support your local suppliers who have faced ruin due to the ludicrous business practices of FFX, who set out to destroy every single competitor. Thankfully their mission has now failed and to all the Power tools.suppliers who were licking their a#se you've learnt a very hard lesson.
If you are in Kent , Fixings Warehouse are happy to help.

 

[Harry from efix.uk]

A heads up to all as many of us have bought from FFX :

"
On 20 September 2024 Jane Steer, Tim Higgins and Toby Banfield of PwC were appointed as Joint Administrators (“Administrators”) of Folkestone Fixings Limited (“the Company”).

The Company is a tools and hardware retailer based in the South-East of England and traded from its own website and two stores based in Ashford and Folkestone.

Unfortunately, the Company’s financial position upon appointment means that it is no longer able to continue trading and as a result all stores and the website will cease to trade immediately.

The Administrators have retained a small number of employees at the Company's head office in Kent for a short time to support in winding down operations.

For all creditor enquiries please email: [email protected]

For all employee enquiries please email: [email protected]
"
https://www.pwc.co.uk/services/busi...jhbAh7oHOVqQNFgmoM_aem_Z_4W7-Sbm6xQTkle70_TXw

A heads up to all as many of us have bought from FFX :

"
On 20 September 2024 Jane Steer, Tim Higgins and Toby Banfield of PwC were appointed as Joint Administrators (“Administrators”) of Folkestone Fixings Limited (“the Company”).

The Company is a tools and hardware retailer based in the South-East of England and traded from its own website and two stores based in Ashford and Folkestone.

Unfortunately, the Company’s financial position upon appointment means that it is no longer able to continue trading and as a result all stores and the website will cease to trade immediately.

The Administrators have retained a small number of employees at the Company's head office in Kent for a short time to support in winding down operations.

For all creditor enquiries please email: [email protected]

For all employee enquiries please email: [email protected]
"
https://www.pwc.co.uk/services/business-restructuring/administrations/folkestone-fixings-limited.html?fbclid=IwZXh0bgNhZW0CMTEAAR00VfJg29E6FEZKsk-P9EEl2cAkr2_vjVzyBbfaWjhbAh7oHOVqQNFgmoM_aem_Z_4W7-Sbm6xQTkle70_T

Such sad News!
I really do feel for all of the employees of this company.
We are in the same industry (Although not power tools) and it is so tough at the moment.
Not entirely sure if we will be able to see this year out!
Wishing you all well.
Any support would incredibly helpful.
Enjoy the day!
Harry.

 

[Rhossydd]

Axminster PNL report also does not look healthy for 2023: https://find-and-update.company-information.service.gov.uk/company/03326979/filing-history, but the balance sheet looks OK for the time being, would be interesting to see how they faired in 2024

Were those figures before they closed Nuneton and reduced the High Wycombe store by a third ? they're certainly working at cost cutting.

 

[Phil Pascoe]

FFX, who set out to destroy every single competitor ...

Doesn't every business?

 

[firefinch]

Doesn't every business?

Not in the way they did

 

[recipio]

A pity about FFX, I always found their prices to be the best. I bought some sash clamp extension bars from them which was about the only place i could find them. Being a foreigner on here I'm afraid Brexit has ruined retailing from the UK. It's impossible to buy anything off Ebay now due to double VAT and customs charges.

 

[Duncan A]

Were those figures before they closed Nuneton and reduced the High Wycombe store by a third ? they're certainly working at cost cutting.

They've cut their headcount by about 20% since those figures. The annual report clearly states that they are on the case although that's not always a guarantee of success. Companies House has the details.
I wish them success; we need a good mix of shops for healthy competition and a choice of operating styles.