Wakefield fit-out firm folds
12 Oct 18 After more than 150 years of trading, fit-out contractor H Waterhouse & Sons (Wakefield) Limited has gone into administration with all 21 staff made redundant.
John Waterhouse (left) and his team
The failure of the family-owned business, chaired by 65-year-old John Waterhouse, was blamed on orders drying up and continually tightening margins.
The company ceased trading on 3rd October 2018 and two days later Lee Lockwood and Bob Maxwell of Begbies Traynor in Leeds were appointed as joint administrators.
Based in East Ardsley, near Wakefield, H Waterhouse & Sons dates back to 1853 when the great grandfather of the current chairman established the business, which provides building refurbishment and office interiors throughout West Yorkshire.
Joint administrator Lee Lockwood said: "The underlying cause of the company's failure appears to be a slowdown in development and refurbishment activity in the face of economic uncertainty and, unfortunately, the business simply proved to be unviable. It is sad to see a business which has been operating for so long and has been run by the same family for four generations, ceasing to trade in this manner."
He added: "Unfortunately, due to a lack of ongoing projects, there was no prospect of rescuing the business. We are in the process of disposing of the company's assets and actively pursuing its debts in order to generate the best return for creditors."