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.”
Operating across North Yorkshire, the company has two divisions, one that provides IT infrastructure and one offering renewable energy solutions, including solar PV systems and electric vehicle charging points.
The group specialises in supplying and installing UPVC windows, doors and conservatories in a wide array of styles. Bespoke bathroom panelling and high-quality guttering products are also provided by the two companies.
The company is a well-regarded specialist provider of hygienic wall, floor, and ceiling cladding systems. To complement its core supply of PVC cladding, the business offers hot welded joints to prevent the build-up of bacteria and can supply stainles...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.