Agents lose income as Betterware catalogue goes into administration
The business behind Betterware catalogue has collapsed with the loss of 100 jobs '“ and agents across Scotland facing the prospect of losing their income.
The 90-year old company folded with debts to HM Revenue and Customs, and has been placed in the hands of joint administrators.
All efforts to find a buyer have, so far, failed.
Betterware catalogues were delivered door to door across Scotland, and the magazines were packed with household items, cleaning products, storage systems and mobility aids.
Founded in 1928, the company had a network of thousands of agents, including 175 north of the border, and, at one stage, was one of the UK’s most successful shopping companies.
It became a household name with a turnover of some £22m in 2015.
But, over the last nine months, the company has endured tough trading conditions, leading to cashflow problems which resulted in it being placed into administration last week.
It has now ceased trading with all 94 staff being made redundant.
Thousands of door to door agents also stand to lose their income.
Betterware’s website has closed down, and the business is now in the hands of joint administrators, Gareth Rusling and Claire Dowson of Begbies Traynor.
It has struggled to find a buyer, and is now looking to get the best deal possible for creditors.
Claire Dowson said: “It is very sad to see the demise of such a long-established business.
‘‘Our aim was, of course, to find a purchaser for the business as a going concern in order to safeguard the jobs, but unfortunately, despite our efforts, this did not prove possible.
“We are now in the process of realising what assets we can in order to achieve the best possible returns for creditors.”
Betterware Ltd is a sister company of Kleeneze Limited which was placed into administration on April 12.