In a message posted on Linkedin on Monday, it was announced that Tradesmith Ltd had been placed into administration after 31 years of trading. This follows on from the administrations of Euramax and then Prime Glazing Supplies within the last fortnight.

Managing Director Mark Hutchinson posted the following on social media:

I am sad to see this outcome for the company. I spent some time with Mark and his wife on a trip to the Deceuninck plant in Belgium before COVID and got on very well with them. They were very enthusiastic about their business and it was clear they cared a great deal. They are very knowledgeable and professional people and I am sure they and the whole Tradesmith Ltd group of people will find their talents utilised in new ventures in the coming weeks and months.

Over the past couple of weeks we have also seen the demise of Euramax, a volume-based business that supplied to the new-build market and caravan sector, which was hit by the closure of Ilke Homes. Then, the ending of Prime Glazing Supplies in Bolton on the heels of the Euramax troubles.

Are we looking at isolated cases here, or are we looking at a trend within the market? 2023 certainly was no walk in the park, with volumes down and inflation causing a real pain for fenestration companies. Is it that we are looking at the effects of 2023 playing out in 2024?

Speaking with others and taking note of what I can observe within the wider sector, things certainly do seem tougher out there than perhaps some are willing to admit either to themselves or in public. I know we’ll probably see some PR and opinion pieces sent out across the media trying to paint a different picture in the hopes that we can stick our heads in the sand for a bit longer. But we’re only into March and we are already seeing signs of a pretty difficult market.

Battling distractions

I wrote last week that despite the instability within the sector, there are still ways and means to make the most of opportunities that exist within the sector. You can read more about that here.

What we will find ourselves doing this year is also competing against distractions for people’s attention. The obvious one being an election which is set to take place later this year. Politics is disruptive at the best of times, but when a General Election comes round, which it will in 2024, people’s attention, and often spending habits, are changed until they know what the outcome of the election will be. It can mean people become a bit more cautious on spending on big ticket items, which windows and doors are. That’s not to say people will just stop altogether until we know Labour has won, which at this point they almost certainly will, it just means that we have to be more effective at persuading homeowners to make enquiries and part with their money.

War is also a bad distraction. We have conflicts in Ukraine, Gaza and now the Red Sea. The attacks on ships in the Red Sea will have direct economic effects on us all. The wars in Ukraine and Gaza will continue to capture the attention of the public, with the conflict in Gaza already stoking very polarised and emotional positions for many of us. This may also be a crucial year for Ukraine and whether Russia manages to make more progress in their invasion. If they do, then expect things to get very nervous and twitchy across Europe.

The economy also continues to play a crucial role in our own fortunes. At the moment, the UK is in a shallow recession. Some believe that we may already be exiting it. Q1 GDP will be closely watched to see if the UK can shake off the R-word quickly. But even if we do, if growth remains anaemic, it won’t feel any different to most of us who continue to see high energy and food bills and rising mortgage payments. Our sector needs to double down on marketing, keep getting our names and brands in front of homeowners and remain making compelling arguments to invest in our homes for a better future.

2024 looks to be as rocky as the previous year, and I expect further consolidation to happen as the year progresses.

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