We have received reports this morning that Hi Way Distribution has entered into administration this morning after a staff meeting informing staff that the company had appointed Ernst & Young as the administrator.
What is happening with the company is, presently, largely unknown as this is a breaking story however, we have managed to determine that this would appear to affect all of Hi Group’s activities in distribution, the sales operation, the brands and, importantly for the service engineers, Independent Service (ISDAL).
ISDAL’s fate is currently unknown but the latest published list of clients that may be affected should the business cease trading are as follows:
| Air Uno | Cooker Hood Warranty |
| AON | Insurance and Extended Warranty |
| Atlant | Refrigeration Warranty |
| Blanco | Cooker Hood Warranty |
| Britannia | Refrigeration Warranty |
| Cata | Oven, Hob and Cooker Hood Warranty |
| Crosslee | Refrigeration Warranty |
| D&G | Extended Warranty |
| DSGI | Frigidaire Refrigeration Extended Warranty |
| Foster S.p.a. | Hobs and Hoods Warranty |
| Fridgemaster | Refrigeration Warranty |
| Frigidaire | Refrigeration, Laundry & Cooker Warranty |
| GE | Refrigeration Warranty |
| Gorenje | Refrigeration, Laundry & Cooker Warranty |
| Hafele | TecnoWind Cooker Hood Warranty |
| Hoover Candy | Warranty and Extended Warranty (all products) |
| John Lewis | Extended Warranty |
| Labcold | Pharmacy Refrigeration Warranty |
| LG | Refrigeration and Laundry Warranty |
| Liebherr | Refrigeration Warranty |
| Meireles | Electric and Gas Cooker Warranty |
| Nardi | Refrigeration, Laundry and Cooker Warranty |
| Philco | Refrigeration, Laundry and Cooker Warranty |
| Siltal | Refrigeration and Laundry Warranty |
| Simfer | Electric and Gas Cooker Warranty |
| TecnoWind | Prima Branded Cooker Hood Warranty |
We will of course update this story as it develops over the next day or so and no doubt there will be a lot of conversation in the trade only forums on the matter where a thread is currently running with more information here
we have asked the administrator for more comment and are awaiting further information.
Press release from the administrator, Ernst and Young as follows:
25 September 2012
HI Group plc
Crown Corporation (UK) Limited
Fridgemaster Corporation Limited
Frigidaire Consolidated Limited
Hardman Isherwood Limited
HI International Limited
H.I. Investments Limited
Independent Service (Domestic Appliances) Limited
Whitwood Warehouse Limited
(together “the Group”)
Sam Woodward, John Sumpton and Tom Jack of Ernst & Young LLP were today appointed Joint Administrators of HI Group plc and eight subsidiaries, as listed above.
Based in Normanton, West Yorkshire, the Group is a family business incorporated over 35 years ago which primarily imports and distributes electrical consumer goods to the retail market, mainly white goods. It also has two complementary divisions:
- a nationwide home delivery business, which offers a complete home delivery service including warehousing, logistics and delivery of goods to end consumers across a range of market sectors
- a service business which provides warranty repairs and services in respect of electrical goods
Sam Woodward, Joint Administrator, said: “In recent years the Group has suffered from challenging market conditions which has seriously impacted the Group’s white goods business. As a result turnover has declined resulting in severe cash flow difficulties.
“We are pleased to report that we have today completed a sale of Hi-Way Express Home Delivery business to Pacifica Group, an electrical repair, warranty and servicing company based in the North East. This sale has preserved the jobs of 57 people and ensures continuity.”
The Joint Administrators are continuing to seek offers for the remaining parts of the Group. Unfortunately it has been necessary to make 109 redundancies today.
Woodward adds “The Group represents a traditional and prominent business in the area and we are grateful to all the Group’s loyal employees, customers and suppliers for their continued support”.
Ends
Media Enquiries
Claire Spoors– Ernst & Young media relations – 0113 298 2510 / 07785 556468
Vicky Conybeer – Ernst & Young media relations – 020 7951 0868/07870 635 196
I have heard that Hisense has bought / is buying HI, is this true?
To our knowledge, the HI owned brands, yes.