A long-standing York family business will be entering liquidation resulting in 10 job losses, its owners have announced.
Elcocks, a tool hire, sale and repair business, ceased trading on Wednesday, November 12, and will go into liquidation on Wednesday, December 10.
The company was founded almost five decades ago and has its headquarters in the Fulford Industrial Estate, off Hospital Fields Road, and operates another site in Driffield. Both are now closed.
Elcocks is run by the third generation of the Elcock family who said the closure is “inevitable”.
In a joint statement, 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.”
Mike Jenkins and Dave Broadbent of Begbies Traynor have been appointed as joint liquidators.
Begbies Traynor said the closure of the York and Driffield sites will result in 10 employees, including the three directors, being made redundant.
The liquidators said 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”.
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It also followed the collapse of a major national buying group to which Elcocks belonged earlier this year, Begbies Traynor said.
The buying group’s collapse 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, the liquidators said.
'Very sad to see a long-standing family business close its doors'
Mr 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.”
Elcocks, which specialised in the sale and hire of power tools, hand tools, accessories and personal protective equipment and clothing, was founded by Claude Elcock in 1977.
As The Press reported , brother and sister duo Andrew Elcock and Claire Bedford took over the business in 2015.
It was previously run by the second family generation, managed by Andrew Elcock and his brother, Ivan.
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