World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom

Products

Keep up-to-date with the latest new products and technology

Features

General articles, applications and industry analysis

Industry counts cost of WR failure

WR RefrigerationUK: As the industry reels from news of the collapse of WR Refrigeration, the administrators say they are desperately trying to find a buyer for the troubled Leicester-based contractor.

While the company’s 600 employees face an uncertain future, suppliers and sub-contractors from across the refrigeration and air conditioning industry are still counting the cost of one of the biggest potential UK insolvencies in recent years.

The administrator has not yet revealed details of the total debt but the company was thought to have returned a small profit last year, after losses of over £3m in 2010.

The subsequent appointment of md Mike Nicholas saw a number of changes in 2011 and a reduction of the loss to £673,000 on a turnover of £45m.

Despite a restructuring of its branch network and a number of redundancies, cash flow problems persisted and there were known to have been discussions with prospective buyers with a view to purchasing all or part of the business prior to the administration.

Should the unthinkable happen the UK refrigeration industry will lose one of its longest established names with a lineage dating back to 1903.

Originally formed as TH Wathes in Leicester, it is one of the pioneering UK refrigeration contractors.

In 1998, the Wathes company split into two independent businesses. Wathes Refrigeration became WR Refrigeration and Wathes Air Conditioning became AC2000. This signaled a series of acquisitions of well-known rival contractors – General Refrigeration in 1998, Northampton Refrigeration in 1999 and Westward Refrigeration in 2001.

WR was purchased by the Finnish group Huurre in 2004, which sparked further acquisitions – Trembath in 2005 and the UK service and contracting operations of Hussmann in 2006.

 

Subscribe to the Cooling Post newsletter

Latest News

28th March 2024

Hudson warns of unsafe US recovery cylinders

USA: The US refrigerant supplier and reclaimer Hudson Technologies has warned of illegal and unsafe recovery cylinders entering the US market.
28th March 2024

Topical talks at Bath breakfast meeting

UK: The next South West South Wales Refrigeration Society breakfast briefing will feature talks from three experienced and knowledgable speakers on varied refrigeration and air conditioning topics.
28th March 2024

CO2 compressor for multiple applications

ITALY: Frascold’s new TK HD series transcritical CO2 compressors are designed for a wide range of refrigeration and air conditioning applications, as well as high-temperature heat pumps up to 100°C.
28th March 2024

Copeland releases 50hp scroll in Asia

CHINA: US compressor manufacturer Copeland is to launch a 50hp scroll for heat pump OEMs in Asia.
27th March 2024

Daikin redesigns Perfera R32 air conditioner

BELGIUM: Daikin Europe has announced a next generation All Seasons Perfera R32 air conditioner with redesigned indoor and outdoor units, making them easy to install and use.
27th March 2024

Press fittings go large

UK: Conex Bänninger has expanded its >B< MaxiPro range of press fittings with the addition of a 1⅝in fitting.