Fri, 08 Nov 2024 | BUSINESS SALE
A Grimsby-based seafood wholesaler has been bought out of administration in a pre-pack deal saving over 30 jobs.
D&A Seafood Solutions, founded in 2015, operates from a site in Grimsby Fish Docks, Lincolnshire and is a supplier of fish and seafood to retailers, restaurants, hotels and caterers from its British Retail Consortium (BRC) accredited site.
According to its most recent accounts it reported turnover of about £4.5 million in the 2023 financial year. In the year ending December 31, 2022 it had current assets of £1.3 million but creditor amounts due within one year of £1.9 million.
According to administrators Qauntuma, D&A Seafoods entered into a Company Voluntary Arrangement in April this year, however it was ultimately not viable and failed. Another solution was then required for the company and creditors, which led to the company subsequently entering into administration.
Quantuma managing directors Sean Bucknall and Elias Paourou were appointed as joint administrators of D&A Seafood Solutions on 31 October 2024.
They have successfully completed the sale of the business and assets to 50-year-old Grimsby-based company Ramus (Grimsby) Ltd. It is a supplier of fresh fish and seafood, as well as frozen, and is also BRC accredited. In addition it has a ready meals kitchen range. sells seafood platters for dinner parties and has an online shop.
Seafood sales have come under pressure in recent years in the UK hit by rising prices as a result of higher inflation and supply chain issues as well as consumer concerns around the environment and declining fish stocks. A recent report found that seafood consumption in the UK has seen significant declines with a 22% drop from 2006 to 2022.
However, many other consumers see it as a vital component in developing healthier lifestyles given the link between oily fish and improved heart health.
Quantuma said the sale provides clarity and job security for all 32 members of staff. It said that Ramus has taken on the D&A Seafood Solutions site and all employees were transferred under TUPE regulations.
Find out more about pre-pack administration deals
Multi-award winning restaurant established in 2002, and managed under guidance of head chef and restaurant manager.
FREEHOLD
A wonderful opportunity to acquire this long established and well respected restaurant which was started by our clients in 2015, during which time it has built a strong reputation with a loyal customer following. The premises occupy a prime trading p...
LEASEHOLD
Exceptionally well known and highly regarded, contemporary licensed restaurant in the Calderdale region of West Yorkshire. Established over 30 years ago and trading consistently well, the restaurant is a much loved institution in this vibrant small t...
LEASEHOLD
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.