FRP oversees administration of shower products supplier Aqualux

Hinckley-based Aqualux Products has fallen into administration, seeing close to 20 jobs lost. FRP Advisory will now look to sell off the assets of the firm to recover value for investors.

FRP Advisory partner and joint administrator Raj Mittal said, “Aqualux Ltd is a well-regarded brand having a presence in the sector for almost 40 years.”

According to Mittal, the cost-of-living crisis has decimated the home improvement sector, with consumers having less to spend on ‘luxury’ goods such as hygiene devices – thanks to ongoing pressures from heightened inflation. As a result of this, and the impacts of inflation on its own operations, “the business was no longer able to keep trading.”

Based in Hinckley, in Leicestershire, Aqualux was a company which manufactured and supplied shower products. Trading for 45 years, the company provided showers, bath and shower screens, brace bars, soap and toilet roll holders and fixing packs. As of 2019, it was owned by AQ Group, and had employed 24 people at its base.

The firm’s latest accounts from the end of June 2022 implied it was heading for trouble, though. In the filing, the company said it had incurred a loss during the year, with the report stating that “material uncertainty exists that may cast significant doubt” on whether it could “continue as a going concern.”
In August, the company filed a notice to appoint administrators through law firm Fieldfisher. This saw Mittal and Ben Jones of FRP Advisory appointed as joint administrators, at which point, 18 jobs were lost.

Looking ahead, Mittal added, “We’re now focused on the marketing of assets for sale and providing support for all impacted staff with their applications to the Redundancy Payments Service.”