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BiKBBI NEWS
BATHSTORE CLAIMS NEARS COMPLETION
Ryan Grant, Joint Administrator, BDO Ryan Grant, joint Administrator at insolvency firm BDO, acting for Bathstore.com (now BSCL Realisations Limited), has communicated with installers informing them that the process of agreeing unsecured creditors’ claims is underway.
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Not to be confused with the Bathstore brand, now owned and operated by HHGL (Homebase), who purchased the brand last year, Bathstore. com fell into administration and closed its doors owing installers millions of pounds. Ryan Grant (pictured) wrote to creditors in June, requesting that final submissions must be made, together with proof of debt, urging those affected to email bscom@bdo.co.uk to stake their claim.
BiKBBI CEO Damian Walters commented, “Sadly the process of insolvency is flawed in a number of ways, with once again the small business who delivered their services in good faith, paying the ultimate price.”
Damian added: “Whilst it’s great to see the process heading toward a conclusion, it’s taken too long and is likely to disappoint those affected. The system simply fails to protect SME’s, whilst HMRC and other stakeholders are prioritised. Unsecured creditors, in this case installers, are amongst the last to fight over scraps and that simply isn’t right.”
The BiKBBI launched its Protected initiative in Parliament last year, aiming to remove financial risk for participating installers and their customers. The scheme began testing in January this year and will launch nationally in the summer.
BiKBBI AND FIESTA ANNOUNCE COLLABORATION
The BiKBBI has joined the Furniture and Interiors Education, Skills and Training Alliance (FIESTA) to ensure that a voice for the training requirements of installers is represented in the body. Founded in 2017, FIESTA brings together the key trade associations and affiliates from across the furniture and interiors industry to work together to address education and training issues.
By joining FIESTA, Damian Walters, CEO of the BiKBBI, has committed to sitting on the FIESTA executive with other industry representatives and contributing to FIESTA’s aims of encouraging and inspiring new talent to join the industry. Gary Baker (pictured), Chairman of FIESTA said, “FIESTA is very pleased to welcome the British Institute of Kitchen, Bedroom, Bathroom Installation as one of our collaborating trade associations and affiliates. The BiKBBI has done some fantastic work addressing the training and education needs within the installation sector and we’re delighted to have someone with Damian’s passion and enthusiasm on the FIESTA executive to work alongside us in identifying and creating solutions that support the needs of the entire furniture and interiors industry.”
In response, Damian Walters commented, “Education is extremely important to the work we undertake as an institute, to encourage future generation of kbb installers. The aims of FIESTA dovetail perfectly with our own goals and ambitions of ensuring the right training and apprenticeship schemes are in place and that we have people with the specialist skills to ensure our industry flourishes. We are delighted to be involved with FIESTA and look forward to working with all the associations to bring about change in the development of training and education.”
Gary Baker, Chairman, FIESTA
NORMAL IS OVER –TACKLING THE ‘NEW NORM.’
Laura Capell-Abra, Director at Stress Matters, discusses the need to adjust our working and personal practises for the future.
As we come out of lockdown, the phrase ‘new normal’ seems to have replaced ‘unprecedented situation’ as the current Pandemic buzz-phrase. I’ve never particularly liked the word ‘normal’ anyway, but this phrase does suggest that the environment in which we work, live and play has changed, that we can alter our routines to adapt easily to it.
The world has changed significantly due to the Pandemic and the ramifications for the future of the KBB industry are far-reaching, affecting everyone from large manufacturers, distributors, retailers and of course, installers. We are only just beginning to imagine how this will change the KBB world forever more.
I have, however, taken encouragement in seeing how people, who, having more time on their hands, are using it positively by challenging their routines and habits, reviewing and adjusting their priorities and taking a step back to consider the true value of what they are doing and how it contributes to a fulfilling life for them and their families.
On the other hand, many people have far less time and are having to juggle a full-time job with full time childcare. Then, of course, you’ve got the heroes who are working on the front line under immense pressure, putting their lives at risk daily.
The point is, everyone’s ‘new normal’ is different right now and it will look different again when we eventually begin to recover from the damage the pandemic has created. That could be in three months, six months or even two or three years’ time - what’s ‘normal’ about that!
If there’s one thing this pandemic has re-enforced for me, is that living in an unpredictable world, where we need to embrace innovation and adaptability, is the only kind of long term ‘normal’ we can expect.
For example, it was COVID-19 this year, Brexit in 2016 - 2019, recession in 2008. I realise this may sound negative but what if we see this as an opportunity to embrace a constantly changing environment as ‘normal’ and build our personal skills and business strategies around this, guiding constant that we can rely upon? It would make us more adaptable and resilient individuals and more innovative and compassionate business leaders. It would keep us sharp in looking for new opportunities for increased productivity and growth and more importantly we will be better prepared for what life may throw at us.
Perhaps the most powerful tool we have at our disposal is to step back, accept that ‘normal’ as we knew it has gone and to instead focus on how we can develop skills that empower ourselves and our businesses to not just survive during inevitable change, but to embrace it full heartedly. For those of us who have been lucky enough to have some reflection time, wouldn’t it be a shame if we didn’t take action from what we discovered? Let’s make sure we action what we’ve learnt and make the new work and home routines that we build for ourselves in the post pandemic world maximise personal and family fulfilment.
Laura Capell-Abra, Director, Stress Matters
We cannot change the unpredictable nature of the world we live in, but by kicking out the concept of ‘normal’ and embracing the idea that change is always going to be inevitable, we can learn to thrive. Not in spite of it, but because of it.
James Capell-Abra, Business Development, Stress Matters
MENTAL HEALTH AND PROFITABILITY
In our pre-pandemic world, a third of business owners revealed that their relationships with their partner (38 per cent) and children (30 per cent) had suffered as a result of running a company. The majority of you will sometimes ‘wish you were doing something else’ (71 per cent).
This love-hate relationship that some have with their business is probably really being put to the tested at the moment. However, the truth is, you cannot control this current situation as its unprecedented. No matter how good you are at running a business, you cannot control outside influences like COVID-19 so its critical you look after yourself first.
It’s estimated that the financial consequence of business owners poor wellbeing may be having a big impact on companies bottom line? Possibly to the tune of over £1,000 per person! This is generally made up of sick days, poor quality of work, troubled relationships, leaving roles, recruitment and training costs plus a few more things too. All sneak easily into your annual budget without a second thought.
The solution, is to look after your wellbeing and it will directly impact the financial success of your company. In January this year, Deloitte found that for every £1 spent by employers on mental health interventions they get £5 back in reduced absence and staff turnover.
We truly believe that success doesn’t have to be stressful.
www.stressmatters.org.uk
