Elcocks, a long-standing York-based family tool hire, sale and repair business with a further site in Driffield, has announced that it is to go into liquidation on 10 December.
The company ceased trading on 12 November, with all operations closing at both sites. A total of 10 employees, including the family business’s three directors, have been made redundant.
The firm was founded in 1977 and was being run by the third generation of the Elcock family at the time of its closure. The directors cited a number of pressures that had contributed to the failure of the business, including a continued decline in demand for tool repair services as consumer trends saw a shift towards replacement rather than repair.
In addition, the collapse earlier this year of a major national buying group to which Elcocks belonged resulted in disruption to supply chains and a large outstanding debt demand that the business was unable to meet. With cash reserves depleted, the company was no longer able to continue operating.
Mike Jenkins and Dave Broadbent of Begbies Traynor have been appointed as joint liquidators.
Mike Jenkins, partner at Begbies Traynor in York, said: “Elcocks has been a familiar name in York and the surrounding area for decades, and it is always very sad to see a long-standing family business close its doors.
“Unfortunately, the combination of market decline, supply chain disruption and the wider insolvency of a key trading partner left the company without a viable route forward. Our focus now is on ensuring the liquidation proceeds as smoothly as possible and that creditors are kept fully informed throughout the process.”
The company’s directors, Ivan Elcock, Andrew Elcock and Claire Bedford, said: “This has been an incredibly difficult decision for the family and for the team who have worked with us. We are proud of the business that was built over nearly 50 years and grateful to our loyal customers and staff who have always supported us.
“Sadly, the challenges facing the business in recent years became too great to overcome, and despite our best efforts, closure became inevitable.”
