This morning the electricals retailer Apollo 200 has entered into administration and it appears likely that some customers may not receive the good that they have ordered. The company’s website has been closed down with a message from the appointed administrator, KPMG all that is available.
The full message detail is as follows:
Mark Orton and Richard Philpott, both of KPMG LLP, were appointed in the High Court as Joint Administrators of Apollo 2000 Limited on 18 March 2009. The business is unable to trade in administration, and accordingly the stores have been closed. The administrators are working hard to assess the position for customers who have made payments and not received goods. We will endeavour to contact these customers over the next few weeks.
If you are a customer then please call the helpline on 0121 507 9000.
We will provide an update on the website for customers with outstanding orders shortly.
The affairs, business and property of Apollo 2000 Limited are being managed by the Joint Administrators.
The Joint Administrators act as agents of the company and contract without personal liability.
Mark Orton is authorised to act as an insolvency practitioner by the Insolvency Practitioners Association. Richard Philpott is authorised to act as an insolvency practitioner by the Insolvency Practitioners Association.
Staff turning up for wok this morning were met with locked premises, one staff member said that: “It was unbelievable. We got to work only to find the gates had been locked by the administrators. People are devastated.
“We knew something was going on because the company has been running stocks down but we were given no notice.
“The way they have gone about it has been pretty poor. Head office just kept their heads down for weeks.”
Employees said that they did not expect to receive their weekly wage packet, which was previously paid on Thursdays.
He said: “We have been told to expect a redundancy package in the post.”
Earlier this month bosses at Apollo 2000 had denied the firm was in trouble when questioned by the press.
The firm, which was established in 1971, has 12 superstores in the UK but is primarily based in the Midlands and employs about 180 people across the country.
Will Wright, director of administrators KPMG, is leading the restructuring team said: “The Group has been adversely impacted by the downturn in the property market and the general decline in retail sales.
“Despite the directors’ best efforts to secure a sale or refinancing of the Group and its trading subsidiaries prior to our appointment, they have been unsuccessful.
“Therefore the directors were left with no alternative but to request the appointment of administrators.
“Following our appointment we have had no option but to cease trading these businesses immediately, regrettably resulting in a number of redundancies.
“I would urge the small number of affected customers of Apollo 2000 to use the customer helpline as soon as possible to ensure a quick response to their queries.”