For 69 years the Smith family has owned and operated Franklin Plumbers and Builders Supplies Ltd; trading as Franklins – European Bathrooms; providing premium bathroomware and plumbing supplies to the New Zealand building industry and homeowners.
The business has had a proud history based on quality service and product lines, with a strong commitment to its customers, suppliers and staff. However, the changing landscape of the building industry and the current state of the economy have led the sole director Stephen Smith to the very difficult decision to shut down the business.
This decision has not been taken lightly and has been driven by the desire to preserve the existing value rather than to see it dissipate in the future. Stephen sought the advice of specialist business advisors and they have assisted in the formulation of a strategy to wind down the operations of the business in as orderly a manner as possible.
The company has been placed into liquidation and the liquidators are hopeful of achieving as good an outcome as possible in these circumstances. All staff will be paid their outstanding wages and holiday pay and all suppliers were current as at the date of the liquidation.
It is with great regret that Stephen has had to make this difficult decision; recognising the impact of them on the staff, suppliers and customers. All inquiries should be addressed to the liquidators at Ecovis KGA Chartered Accountants.
businessrecovery@ecoviskga.co.nz
This does not affect Franklins Wellington and they remain open as normal.
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