Harvey Jones Kitchens Seeking Investment

It has been reported that bespoke kitchen company Harvey Jones is looking for investors to prevent the business falling into administration.

The company operates from nearly 30 showrooms across the UK, all of which are still trading,  and its luxury kitchens are manufactured in Cambridgeshire.  

Talks are understood to be “advanced and encouraging” but a notice of intention to appoint administrators has been made to protect the business while discussions continue. 

Companies House data showed that Harvey Jones Holdings Ltd's accounts for 2022 are  overdue.  In 2021, the company posted turnover of £19.3m, an improvement on 2020's £15m figure, while pre-tax profits reached £1.2m following a loss of £4,649 in the previous year.

In May 2022, the company announced that it had been acquired in a management buyout led by then MD Darren Woolsgrove and supported by Coniston Capital.  James Gunn was appointed as CEO in February 2023.

A statement released by the company said: 

"We recently commenced a review of our strategic options which would enable us to restructure the business on a sustainable basis. We are now in advanced and encouraging conversations with our key stakeholders and potential new investors, and we hope to have more news to share in the coming days.

“In the meantime, we have filed court documents that will protect the business while these discussions remain ongoing, to allow us time to reach a successful conclusion. For our customers, it’s very much business as usual as we continue to fulfil orders and build on the back of a strong January trading month.”

Source : Insight DIY; Harvey Jones Kitchens

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