Hotdog firm seeks buyer following administration
Westler Foods produced food products in both canned and pouched form for large brands including Chesswood, BigMex, Westlers and Multi Menu. It employed more than 200 people at its headquarters.
During an evaluation of its spending in early 2009, the business discovered a funding gap of more than £15 million related to its defined benefit pension scheme.
Following the findings, Westler Foods attempted to fill the gap with both external and internal investment over the past year, but found it impossible to do so and were forced to call in KPMG as administrators.
Howard Smith and Mark Firmin of KPMG's restructuring practice, said, "This is an uncommon and unfortunate situation of a well-run and profitable business being compelled to enter insolvency specifically because of the scale of its pension deficit.
"The company has a number of extremely interesting contracts so we are trading the business as a going concern while seeking a buyer," he added.
Nine out of the 200 employees have already been made redundant.
Latest Businesses for Sale
Digital printing specialists, commercial and retail stationers, lithographic printing and various ancilliary services. Freehold retail shop and long leased factory unit. Sale price includes all equipment and properties. NP £80k...
Three Victorian houses joined together to form a luxury 8,500 sq. ft. facility. Includes reception, two lounges, four dining rooms, 16 en-suite bedrooms, music room, two kitchens, conservatory, bar, sauna, hot tub and more...
With over £60k worth of trading, the company has a very reputable name within the tourist and leisure market. Excellent potential...
View More Businesses for Sale >>
Businesses for Sale
Do you want to gain access to the latest businesses for sale as well as all UK administrations, liquidations and all winding-up petitions?
Business Sale Report is your complete solution to finding great aquisition opportunities.
10 Biggest Buyer Mistakes
Fill in your details below to get our FREE guide