Thu, 22 Feb 2018 | ADMINISTRATION
A Cumbria-based food producer and family business has entered administrators after ceasing trading earlier this month, as increased competitive pressures continue to hit the food and beverage manufacturing sector.
The Ultimate Food Company, best known for its line of bespoke Christmas puddings, has appointed administrators from Begbies Traynor to advise on how to secure the firm’s future.
At present all 20 employees of the firm have been made redundant, with administrators focused on selling the business and its assets.
Founded in 1986, The Ultimate Food Company specialised in making Christmas and other sponge puddings for private-label, food service and wholesale customers. Its recently-expanded range also includes rum and brandy butters, dessert sauces and chutneys.
The firm’s client book includes high street names such as Fortnum & Mason, for whom the Cumbrian firm made Christmas, Easter and rose petal puddings for various seasonal hampers in 2012 and 2013. It has also produced Fortnum & Mason’s Christmas puddings since 2013, including the famous Magnificent model which featured a molten centre of gold-flecked brandy butter.
Begbies Traynor have dispatched Dean Watson and Ian McCulloch as joint administrators, who both hope that Ultimate Foods can survive in some form going forward.
McCulloch said that the firm was an “established, well-recognised and highly regarded” food brand that had to cease trading due to unfortunate circumstances.
He added: “We are currently in the process of marketing the business and assets for sale and should there be any interested parties then please get in touch.”
Watson emphasised that any course of action would be chosen to “minimise the impact on the administration on customers” as well as maximising returns to creditors.
Popular and well-established Italian restaurant is on the market with a huge amount of potential for a new owner to increase revenue building off the current owners’ successes. The current owners have been developing this business since 2015 and have...
2 x Lucrative Cafes & Food Kiosk Recently Departed from a Franchise in Cornwall. Well-Established and Longstanding. Ideal Coastal Location. Recently Renovated. Fantastic Reputation. Excellent Trade Throughout the Year. Offers invited.
LEASEHOLD
Two staff-managed businesses belonging to recognised franchise. Separate or collective purchase available. Based within 2 popular locations. Full support from franchiser. Brilliant reputation. Household name. Offers invited.
LEASEHOLD
|
19
|
|
Sep
|
Smith & Williamson and Tilney to merge | MERGER
After revealing in August this year that talks were in place...
|
18
|
|
Sep
|
Infrastructure investment manager takes stake in LJLA | BUSINESS SALE
Infrastructure investment management group, Ancala Partners,...
|
17
|
|
Sep
|
Impact REIT snaps up Suffolk-based Cardinal Healthcare business | BUSINESS SALE
Impact REIT has successfully acquired Cardinal Healthcare, a...
Sign up to receive our acquisition alert emails to get your FREE guide
|
25
|
|
Jun
|
Port Talbot construction business enters administration | ADMINISTRATION
A construction company based in Port Talbot has fallen into ...
|
05
|
|
Jun
|
North Yorkshire bathroom supplier enters administration | ADMINISTRATION
A bathroom supplier has collapsed into administration after ...
|
18
|
|
Dec
|
High street clothing chain enters administration | ADMINISTRATION
A prominent high street clothing chain has collapsed into ad...
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