Wed, 15 Jan 2014 | ADMINISTRATION
The future of Derby wholesaler and catering supplier Sohal Foods Ltd, is looking more positive after Hyperama Plc bought it out of administration.
Hyperama, which has three cash and carries in the Midlands, beat the other bidders to purchase the business and assets of Sohal Foods from administrator Dean Nelson of Smith Cooper on 7 January.
Trading for 30 years, Sohal had been hit by cash flow difficulties and a subsequent reduction in its margins. The administrator Mr Nelson was asked to market the business as a going concern, and received many expressions of interest and two formal offers.
Sohal supplies food, drinks and catering supplies to restaurants, takeaways and licensed trade throughout the East Midlands.
The deal has secured Sohal’s 30 employees’ positions. Hyperama is to keep the Derby business as it is, adding it to its existing operations in Nottingham, Peterborough and West Bromwich, and is planning additional investment.
Hyperama’s managing director Marcus Singh said the management team are happy to welcome the newly acquired business and will focus on growth through “introducing our better buying power and range into Sohal Foods while incorporating their outstanding customer service and delivered offering into Hyperama”.
“Rather than cutting costs, we are keeping on all staff and will be investing heavily into the business infrastructure to give it the necessary impetus,” he added.
The administrator benefited from the assistance of Rachel McCahill-Brown of law firm Nelsons Solicitors in the sale.
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