Mon, 08 Mar 2010 | ADMINISTRATION
Seatek UK, one of the leading fish suppliers in the UK, has followed its parent company, British Seafood Group, into administration.
Andrew Stoneman and Jason Godefroy of MCR have been appointed as the administrators to Seatek (UK) Ltd and for two other companies in the group - Oriental Delight Foodservice and Vision Seafoods, both of which are based in Redditch.
The administrators will work to identify a buyer for Seatek after establishing its financial situation and the reasons for the company's demise. It is clear to the administrators that problems at the firm were not caused by external forces, and seemed to be trading well.
Seatek UK and its division John Koch wholesale frozen, fresh and ambient fish and seafood from London's Billingsgate Fish Market and its base in Grimsby, South Humberside.
It manages the entire supply process from buying the catches to storage, distribution and delivery to its customers at restaurants and fishmongers.
For the year ending 31st December 2008, Seatek had revenues of over £38m, and pre-tax profits of £392k.
British Seafood Group went into sudden administration two weeks ago, creating shockwaves in the sector, as it had been ostensibly trading well and was undergoing expansion.
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