S&A foods enters administration after losing Asda contract

Thu, 29 Oct 2015 | ADMINISTRATION

Asian ready meal specialist, S&A Foods, has entered administration after the loss of a major contract with supermarket Asda.

The business had already laid off 200 staff last week and put a stop to production due to a shortage of some ingredients. But this week (27th October) the firm has confirmed that all 300 workers have been made redundant as the business shuts its doors.

Deloitte have been appointed to handle the administration and will keep on a very small number of staff to wind things down.

Perween Warsi, who founded the business, explained that Asda's decision to use another meal supplier was behind the company's administration.

She added: “We have worked desperately hard to try and save the business in a very short space of time, but, having explored many different options and rescue packages, we have no alternative but to appoint administrators.”

Ms Warsi had previously noted that the firm was not in a position to pay a number of its suppliers but the closure of the business is being laid firmly at Asda's feet with the founder adding: “Now is not the time for recrimination and the full facts will emerge in the coming weeks, but the harsh reality is that we simply could not run a financially viable business on the revised terms offered by Asda.”

The business was founded in 1987 and was bought into in 1988 by a venture capitalist. It took full control back from its investors in 2004.


Find a business in administration that suits your interests.

Or subscribers can check out our recent article on food industry acquisitions in the UK.


Share this article



Latest Businesses for Sale

Accountancy Practice: 2 Partnered
Gwent, Wales, UK

This practice, which was established in 1955, is available for sale due to the impending retirement of the partners. Requirements: One of the partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers...

Asking Price: Offers Invited
Turnover: £400,000

FREEHOLD


Accountancy: 4 Partner Practice
Cheshire, UK Wide

This practice, which was established in 2008, is available for sale due to the impending retirement of the partners. Offers invited.

Asking Price: Offers Invited
Turnover: £1,735,000

LEASEHOLD


Accountants: 2 Partner Firm
West Yorkshire, Yorkshire and the Humber, UK

This practice, which was established in 1985, is available for sale due to the impending retirement of the partners. Offers invited.

Asking Price: Offers Invited
Turnover: £360,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
May
 

Greater Manchester staffing firm acquires security services company | BUSINESS SALE

A security services business headquartered in Newton-le-Will...

 
16
 
May
 

Midlothian IT company enters administration with assets up for sale | ADMINISTRATION

An Edinburgh-based IT firm has collapsed into administration...

 
15
 
May
 

Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE

Challenge TRG Group, headquartered in Wigan, has successfull...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
13
 
May
 

Historic West Yorkshire manufacturer enters administration | ADMINISTRATION

A construction industry supplier based in West Yorkshire has...

 
23
 
Apr
 

The Hut Group buys Christophe Robin haircare brand | BUSINESS SALE

British e-commerce firm The Hut Group (THG) has acquired Fre...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

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