Mon, 15 Oct 2012 | ADMINISTRATION
Silver Spring Soft Drinks has been forced into administration by "creditor pressure and cash flow problems".
The firm has appointed administrator Kevin Coates from Zolfo Cooper to handle the situation and "all possible options" look set to be considered. This will include the potential for a sale of Silver Spring as a going concern.
Mr Coates told Food Manufacturer: "Unfortunately, the company has experienced increased cash flow pressures in recent months. Management has explored various options for the business including a sale and a CVA, without success. As a consequence, the company was placed into administration."
Silver Spring is based in Kent and employs around 80 staff. It owns a number of different water brands, including Perfectly Clear and the popular premium range of traditional mixers, 1870 Mixers. Its importance in the local community will see administrators work hard to rescue what they can of the business.
Mr Coates added: "We will consider all options available and we believe the company is an attractive proposition, particularly given the strength of its well-known brands. Expressions of interest from potential buyers are welcome.”
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