Luxury shopfitter set to appoint administrators
Leicester shopfitting firm Clements is set to enter administration, it has been revealed.
The company has filed an intention to appoint administrators, with Shakespeare Martineau handling the case.
Clements was established in 1993. The company is based on Waterside Road in the city and had carried out work for luxury names such as Harrords, Versace and Christian Louboutin.
In its latest accounts, made up to the end of June 2021, the firm said it had been impacted by the Covid-19 pandemic and that it had undergone a “comprehensive strategic review”. Clements said it had suffered a slowdown in revenues during the period that was not matched by a reduction in overheads – although it forecast that over the course of the next two years revenues would begin to be rebuilt.
To mitigate against the fall in turnover, Clements closed its Sheene Road site in Leicester, which was sold for £2.5m, cut staff and ceased manufacturing operations.
Losses in 2021 amounted to almost £2m – up from £135,700 in 2021. At the time the firm employed 64 people.
Clements was contacted for comment, but failed to reply at the time of publication.