225 jobs are under threat this evening with the liquidation of the BHT group and the failure to sell the Brooks plumbing retailers, which is part of that group. The Brooks shops have closed with immediate effect.
The liquidator, Kieran Wallace of KPMG has said that he will continue to assess the situation over the coming days, in the hope of finding a buyer for all or part of the remaining business.
The liquidator has secured a buyer for Heat Merchants and Tubs and Tiles, which constitutes the other part of the BHT Group and in the process secured 220 jobs.
Heat Merchants and Tubs and Tiles have been sold to Harleston, the owners of the Irish-based Hevac heating and plumbing supplies group.
The BHT Group went into liquidation today, having gone into examinership on 16 February.
32 of the 36 Heat Merchants' retail outlets in Ireland have been acquired as part of the transaction, as have 7 of the co-located Tubs and Tiles outlets and 5 standalone Tubs and Tiles outlets. The acquired operations will continue to trade and operate as normal.
All 11 Brooks' outlets will close with immediate effect, while the liquidator assesses options in relation to the future of these stores. As a number of the sites are generating income with significant footfall, the liquidator has noted that there is some interest in a number of the outlets from potential purchasers and is hopeful of agreeing a sale of these outlets.
Commenting Kieran Wallace said: "While it is clearly disappointing that the examinership of BHT Group did not arrive at a successful conclusion, today's transaction with Hevac Limited, a leading supplier to the Irish heating and plumbing sector, secures a substantial number of jobs and puts both Heat Merchants and Tubs and Tiles on a more secure and commercially viable footing."
