220 jobs saved as BHT assets sold

The future of some 220 of 445 jobs at builders providers BHT has been secured after a buyer was found for the Heat Merchants and Tubs and Tiles stores.

The trade and assets of Heat Merchants and Tubs and Tiles have been acquired by the owners of Hevac Limited from Kieran Wallace of KPMG, who earlier today was appointed by the High Court as Liquidator to BHT Group, following a period of examinership.

The financial details of the transaction were not disclosed.

Thirty-two of the 36 Heat Merchants’ retail outlets in Ireland have been acquired as part of the transaction, as have seven of the co-located Tubs and Tiles outlets and five standalone Tubs and Tiles outlets.

The acquired operations will continue to trade and operate as normal, a statement said.

However all Brooks’ outlets, also owned by BHT will close with immediate effect.

The liquidator is to assess options in relation to the future of these stores, noting that there is some interest in a number of the outlets from potential purchasers and is hopeful of agreeing a sale of these outlets.

Of the 445 jobs in the BHT Group, 220 have been secured as a result of the transaction.

While it is clearly disappointing that the examinership of BHT Group did not arrive at a successful conclusion, today’s transaction with Hevac Limited, a leading supplier to the Irish heating and plumbing sector, secures a substantial number of jobs and puts both Heat Merchants and Tubs and Tiles on a more secure and commercially viable footing," Mr Wallace said.