Thu, 11 Jun 2015 | ADMINISTRATION
Seafood supplier MacCallums of Troon has entered administration, with the administrators seeking a sale either a whole or in parts.
While the business remains profitable, bad debts have resulted in cash flow difficulties which the firm has proved unable to overcome. The Herald Scotland reported that Ian Wright and Scott Milne of Glasgow accountants WRI Associates have been appointed as joint administrators.
Mr Milne told the paper: "We think this is fundamentally a good business - it has just had some cash flow difficulties due to bad debts, [with] restaurants and other customers themselves going into insolvency processes, or just shutting down and not paying."
The company began trading as a fish and chip shop operator, but it moved into wholesale and has supplied a number of award-winning restaurants, as well as its own shops such as the Wee Hurrie and the Wee Fry.
The plan is to sell the business as a going concern and it is being traded by the administrators with this in mind. The team are reportedly open to a sale of the business either as a whole or in parts if so desired: “We're hopeful of a going concern sale [for] all of it – if not to one person [then] across the piecer.”
Contact MacCallums' administrators
MacCallums of Troon joins Grimsby seafood company, Mariner Foods, in administration. Mariner Foods folded in May with the disposal of the company's assets taking place in early June.
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