Thu, 17 Aug 2017 | ADMINISTRATION
A family-run business based in Tonbridge, Kent, has gone into administration at the cost of around 260 jobs.
Southern Salads, which has ceased trading with immediate effect, specialised in supplying fresh salads to supermarkets, restaurants and travel chains across the UK.
Ian Vickers and Chris Stevens, partners at FRP Advisory, have been appointed joint administrators, and stated that their most pressing priority was to make sure all those who have been made redundant were fully supported with their claims to the Redundancy Payments Service.
"Southern Salads, a family-run Kent-based business, had traded for around 30 years, and managed over the years to deal with the increasingly competitive pricing pressures from supermarkets and other retail chains faced by all food supply businesses.
"Despite successfully producing over 50 tonnes of salad per day for its array of customers, the company faced an unprecedented pressure on cash flow in the immediate aftermath of last summer’s EU referendum vote.
"The company was unsuccessful in negotiating any significant changes to its pricing terms with its suppliers in mainland Europe, while also being unable to pass on its cost increases to supermarkets and its other customers," said Mr Vickers, adding that the company relied on European suppliers for their produce.
Tom Tugendhat, the MP for Tonbridge and Malling, expressed his regret over the closing of the company.
Contact the administrators here
Subscribe to Business Sale Report here.
Represents an opportunity for an acquirer seeking a three surgery, predominantly private dentistry located in Pembrokeshire.
FREEHOLD
Predominately NHS dental surgery with scope for physical expansion, private growth and extended services.
FREEHOLD
Represents an opportunity for a dental practice acquirer seeking a seven surgery mixed dentistry operating since 1978.
FREEHOLD
18
|
Apr
|
Household goods retailer Lakeland undergoes a management buyout | MBO/MBI
Windermere-based family-owned household goods retailer, Lake...
17
|
Apr
|
Manchester tech firm Wakelet bought out of administration | BUSINESS SALE
A Manchester technology company has been bought out of admin...
17
|
Apr
|
Nutrition company Science in Sports bought by investment firm for £82 million | BUSINESS SALE
Nutrition specialist Science in Sport (SiS) has agreed to be...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.