Well, sort of.
Just before Christmas and in the New Year it is likely you will have seen adverts from Safestyle seeking out installers, surveyors, sales reps and so on. Yes in what seems like a Christmas miracle Safestyle are back, after their demise in October of 2023.
It’s a little less simple than that. Here’s what we know.
Safestyle Windows
After the business fell into administration at the end of last October, Anglian Home Improvements reached a deal with administrators to buy the order book from the failed business. It meant that customers who placed orders with Safestyle UK, had ongoing installations or those who had just placed deposits would ensure their work would be installed and completed.
Since the demise of the Bradford-based brand, it has been revealed the business went under owing large sums to a number of different parties. It became clear that the chances of the business being able to be saved was even less unlikely than the market thought at the time.
However, the old brand lives on as Safestyle Windows. It is a trading name of Anglian Home Improvements as per the blurb at the bottom of the Safestyle Windows website:
Registered office: Safestyle, Liberator Road, Norwich, NR6 6EU. Company registration no. 2540020.
Safestyle is a trading name of Anglian Windows Limited and is a credit broker, not a lender, authorised and regulated by the Financial Conduct Authority (FCA). FCA Register no: 302334. The register can be accessed through https://www.fca.org.uk
The company registration number is the same as Anglian as is the registered office.
So whilst a rival national installer has been able to swallow up a competitor, it has chosen to keep the brand name alive. I assume that they have done so as it continued to command national recognition and would still be able to generate leads and business for Anglian.
The situation now is that they are using the brand name of a rival to help generate new leads and business. Perhaps not the way many thought a national would take over another, but these are fluid times we are operating in and the normal ways of doing things appears to be suspended. Just look at how Everest took over Evolution after the demise of UKWDG.
What happens in 2024?
Everyone is asking themselves and each other what is going to happen in 2024. Last year was pretty rough on reflection. We lost some major names and the number of jobs lost not only by those going bust but by larger companies cutting their own workforce to remain profitable.
The problem with 2024 is that there are a lot of uncertainties we’re going to have to deal with once again. Will inflation remain sliding back to regular levels or will it spike? The troubles in the Red Sea alone could see global prices begin to rise again. Will the mortgage market improve? Will the Bank of England help stimulate the economy and cut interest rates to make credit easier to access?
Then there is the election. The one thing businesses and economies hate is uncertainty and elections bring them every single time. What is worse we don’t know when it will be. Some think it could be some time in the summer due to the Spring Budget being brought forward. Rishi Sunak hinted that it would be in H2 of 2024 but wasn’t exactly concrete about it. Elections bring uncertainty because people and businesses don’t know what will be in store for the economy because of the differing policies by the different parties. Until a winner is know, some may choose to hold back on their own spending plans.
I still think that we are likely to see a number of other established names go to the wall during 2024. Last year was a damaging year and a hell of a hangover from the post-COVID boom. It will still be spending ripple effects into 2024 and the companies who are exposed to debt and loans could find themselves particularly vulnerable if this year proves to be another subdued year.
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