MacCallums of Troon enters administration

Thu, 11 Jun 2015 | ADMINISTRATION

Seafood supplier MacCallums of Troon has entered administration, with the administrators seeking a sale either a whole or in parts.

While the business remains profitable, bad debts have resulted in cash flow difficulties which the firm has proved unable to overcome. The Herald Scotland reported that Ian Wright and Scott Milne of Glasgow accountants WRI Associates have been appointed as joint administrators.

Mr Milne told the paper: "We think this is fundamentally a good business - it has just had some cash flow difficulties due to bad debts, [with] restaurants and other customers themselves going into insolvency processes, or just shutting down and not paying."

The company began trading as a fish and chip shop operator, but it moved into wholesale and has supplied a number of award-winning restaurants, as well as its own shops such as the Wee Hurrie and the Wee Fry.

The plan is to sell the business as a going concern and it is being traded by the administrators with this in mind. The team are reportedly open to a sale of the business either as a whole or in parts if so desired: “We're hopeful of a going concern sale [for] all of it – if not to one person [then] across the piecer.”

Contact MacCallums' administrators


MacCallums of Troon joins Grimsby seafood company, Mariner Foods, in administration. Mariner Foods folded in May with the disposal of the company's assets taking place in early June.


Share this article



Latest Businesses for Sale

Natural Stone Supply Company: Sourcing/Processing/Distribution
Aberdeenshire, Scotland, UK

This company specialises in supplying the highest quality natural stone products, offering a complete turnkey solution to its customers from sourcing, through to processing, design and final distribution and delivery. Offers invited.

Asking Price: £1,050,000
Turnover: £1,100,000

RELOCATABLE


Precision Engineering Business
North West, UK

Precision Engineering Business for sale operating with a modern, well equipped machine shop, offering Engineering Development Modelling (EDM), CNC turning & milling, grinding, boring and fitting. Offers invited.

Asking Price: Offers Invited
Turnover: £400,000

LEASEHOLD


Accountancy Business
UK Wide

High quality practice with strong middle management on the market for the first time. Established: 25 to 30 years. Strong middle-tier management to support acquirer throughout the transition period and on an ongoing basis. Locations: Cheshire, Mersey...

Asking Price: £1,300,000
Turnover: £1,300,000


View more businesses for sale

News Search

Latest News

 
20
 
Sep
 

Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE

Thomas Cook Group is reportedly trying to piece together a l...

 
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,...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources