Wed, 25 Apr 2012 | ADMINISTRATION
Cheshire-based D&D Wines International has entered administration, with an insolvency practitioner from RSM Tenon Recovery appointed to handle the affair.
The company has been in operation since 1973 and sells over 600 wines predominantly to UK supermarkets and the cash and carry sector. Its wines are sourced from 25 wineries in ten different countries, and include its own exclusive labels as well as a number of popular brands.
A spokesman for the administrator told trade magazine Harpers that the team is currently working at the firm's Knutsford office to create a “strategy” for the administration. He added that all creditors will receive a formal notice within the next week and revealed that a buyer is being sought for the business.
The administration appears to have been the result of cash flow difficulties during the first quarter of the year after orders dropped. This is to be expected at this time of year, but a change in trading terms with a supplier towards the end of 2011 put additional pressure on the company's finances, Chris Ratten of RSM told Business Week.
Twelve jobs have been lost through the administration, but it is hoped that a buyer will be found who is able to maintain the remaining 15 positions.
Once a thriving online garden centre started in 2018, after an internal dispute the business stopped trading in 2022. In a space of just 3 years the business achieved £500k in turnover. This is a perfect opportunity for someone looking for a new...
Presenting an opportunity to acquire a very profitable plumbers and heating merchants business operating nationwide.
Popular and well-regarded Sushi and Ramen restaurant and takeaway, which is situated in a prime city centre location in Norwich. The premises are set over three floors and are presented to an extremely high standard throughout and offers the opportun...
LEASEHOLD
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
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.