Iconic Coventry business closes after nearly 300 years
Astleys, which specialised in cleaning products and personal protective equipment, has closed after 295 years and entered solvent liquidation
After 295 years of serving firms across the region, a Coventry business is closing.
Astleys, which specialised in cleaning products and personal protective equipment, has ceased trading and entered solvent liquidation.
Bosses say it's due to operational costs and a change in buying habits after Covid.
Sharing the statement on their website, they said: "It is with great sadness that the directors of the business have taken the decision to end our relationship with thousands of wonderful customers. However, it is the time to make this decision, whilst we are in the position to be able to withdraw with honour held - we are conducting a controlled shut-down, ensuring that we pay all our staff, suppliers and other creditors. Astleys has not gone bust, we are entering solvent liquidation.
"Many of our customers have said many wonderful things, expressed shock and their disappointment. We have heard that Astleys is part of Coventry and indeed after 295 years of employing Coventrians, serving Coventry businesses and paying our taxes and dues, we also feel that sentiment. If only history paid the bills.
"There are many reasons why the decision has been made. Changes to buying tendencies, many exacerbated during Covid, made most people change our habits. Internet searching for the cheapest prices have impacted on traditional businesses unable to compete because of higher overheads due to the cost of physical shop/showroom space and that they have experience staff able to advise customers.
"Astleys was left one of very few independent distributors in a market predominated by large multi-nationals. Suppliers, increasingly pressured by competition and the need to reduce their overheads, favoured dealing with fewer, larger customers, which further disadvantages smaller independents, making it difficult to compete.
"Operational costs, above all, are the most difficult for business, especially small businesses. The increases imposed by governments unfriendly to business opportunity have, and continue to be, increasingly difficult to swallow. Rates, employment taxes and the increases in the minimum wage will continue to have counter-productive consequences on the wealth of the nation and the prosperity of its citizens at every level. Most evidently shown by the number of businesses that are closing.
"The vagaries of business in recent times mean that our normal expectation of excellent customer service being rewarded with loyalty are not met. Astleys has, as some other similarly sized competitors that we've spoke with, experienced some perplexing decisions from mainly 'corporate' large customers making decisions that lock us out of business that we would normally expect to have kept. Business where our customers are equally perplexed and frustrated by their 'higher-ups' desire to make decisions based on 'corporate expediency' rather than logical sense. It is an unfortunate fact that business has changed so that there is little time to consider the value in what is bought rather than the lowest ultimate cost, which invariably is more expensive.
"If you have been a customer of Astleys, we would like to thank you for your business in the past and wish you every success for the future - Good luck."