Capital Cooling pledges to protect customers over liquidation risk

Chiller suppliers Capital Cooling have reassured customers that warranties and orders will be fulfilled even if the firm is forced into liquidation.

The company has supplied, Nisa, Costcutter, M&S, WHSmith and unaffiliated stores with chillers and most recently reported a turnover of £4.4m. However, four months after receiving a £3.2million loan, the firm appointed administrators in August. A source at the company told RN: “Like a lot of companies the Covid pandemic has had a negative effect on the cashflow of our business. While we applied for support with both the UK and Scottish Governments we were not successful and after exploring all other possible avenues we were unfortunately left with no other option.”

However, in a newly published notice, the Capital Cooling Refrigeration Limited’s directors said they would continue trading under the brand, even if the company enters insolvent liquidation. A creditor’s meeting took place earlier in September. Administrators Quantuma, were asked to comment on the outcome of the meeting and Better Retailing is awaiting its response.

Asked what reassurances could be given that the new venture would honour orders placed but not yet fulfilled by Capital Cooling, a source at the firm said: “We have already spoken to all existing clients and advised them that all orders will be fulfilled as expected by the new business entity.”

“The new business entity will honour all warranties for our customers,” they added, before concluding: “While we were unfortunate casualties of the current situation we are keen to ensure that not one single customer suffers any negative impact due to this.”