OAKEA has now ceased trading
It is with regret that we have to make it known that OAKEA has not been able to ride the storm of the consequences of the Brexit referendum.
As an importer, we were hit hard by the weakened Pound in the first instance. In the months following the referendum we lost half of our equity built up over 14 years due to scheduled production for which prices rose app. 20% over night due to the immediately worsened exchange rates.
Ongoing from there the retail environment has been very difficult due to uncertainty following the referendum. We made a wholehearted effort to reduce overheads, most notably by refraining from renewing our warehouse/showroom lease, which expired on the 18th June 2018, with the intention to keeping trading online only. However as it has come clear, this business model has not been feasible for us.
All staff has now been made redundant and premises are vacated.
We are pleased to say that we have managed to make sure that no suppliers, customers or staff have lost out financially as a result of this closure.
As for the website, brand and business systems, we are in negotiation for a takeover of these assets and it is likely that OAKEA will re-emerge in a more contemporary form in the near future.
If you have any concerns or questions please email email@example.com
Give us a call
0333 666 2532