The Courier & Advertiser (Fife Edition)
Betterware ceases trading
Betterware, a catalogue and door to door business with 5,000 distributors, has collapsed with debts to HM Revenue and Customs.
The firm had thousands of door to door agents, including more than 175 based in Scotland, who stand to lose their income after the failure of what was once one of the UK’s most successful shopping companies.
Founded in 1928 and originally based in Romford, Essex, Betterware Limited relocated to Birmingham in the 1980s.
It became a household name best known for home storage and personal care products, as well as mobility aids.
It was floated on the London Stock Exchange in 1986 and was one of the best performing shares in the early 1990s.
In 2015 it was bought by Texas-based consumer sales group JRJR and, at that time, had a turnover of £22 million.
Providing an extensive range of homeware and cleaning products including gifts, personal care, mobility and beauty, as well as outdoor and electrical products, the Betterware catalogue was marketed through teams of thousands of distributors to homes throughout the UK and Ireland.
The company was placed into the hands of joint administrators Gareth Rusling and Claire Dowson of Begbies Traynor on April 13.
Over the last nine months, the company has suffered from tough trading conditions and cashflow problems which resulted in it being placed into administration.
It has now ceased trading with all 94 staff made redundant.
Joint administrator 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.”