Former Kettle Interiors directors appointed at new owner

Two former directors of failed cabinet supplier Kettle Interiors have been appointed to the new owner of the company’s brand and IP.

Kettle Home agreed to buy these from administrators Begbies Traynor.

Kettle Home was set up by Joseph and Natasha Pignatiello on 28 October 2022 as cavu consulting. Its name was changed on 20 March, along with its registered address to that of Kettle Interiors’ former address in Corby. 

Former Kettle Interiors directors Stuart Caddy and Ian Kettle were appointed as directors of Kettle Home the next day.

Both are also directors of Home Interiors Direct, described as a furniture wholesaler.

Joseph Pignatiello is the director of retailer Designer Furniture Holdings, which has yet to file accounts, and was a director of Online Furniture UK with Gordon Caddy, until December 2022.

Kettle Interiors was placed into administration on 27 March with its 126-strong workforce made redundant.

‘An open marketing sale process was instructed by the administrators, through our selling agents, who advertised the disposal of the goodwill and intellectual property rights of Kettle in the public domain. This marketing sale process generated significant interest within the furniture sector locally and abroad and many interested parties contacted our selling agents during the diligence and sales window. Within this sales process a number of offers for the goodwill and intellectual property rights of the Kettle business were received by our agents,’ says Gary Shankland and Ken Pattullo, joint administrators.

‘At the closing date of the marketing process, at 5pm [on 28 March], our selling agents advised that one offer was materially higher than the other offers received for the goodwill and IPR of the business. This offer was from an associated company called Kettle Home. As a result, our agents gave this bid the preferred bidder status, subject to diligence and funding, and recommended its acceptance.

‘Following consultation and recommendations from our agent to accept the preferred bid, the administrators began a consultation process with the company’s lender, which holds security over the assets subject to the offer, for their subsequent review and approval of the preferred bid received.

‘The administrators confirm that following an open market sales campaign, the offer from the preferred bidder, Kettle Home, was accepted for the acquisition of the goodwill of the Kettle branding and associated IP, subject to contact.

‘Subsequent sale deadlines have also been put in place by our agents, as the administrators seek to dispose of the vehicles, chattel assets and remaining stock in an open marketing tender sale.’

Kettle FRbedroom

Subscribe

And receive a glossy copy of our magazine straight to your door