Thu, 05 May 2022 | ADMINISTRATION
A buyer is being sought for salmon processor Bleiker’s Smoke House, which fell into administration shortly after losing a major contract with a UK supermarket. The Yorkshire-based company had been the supplier for Aldi’s “Specially Selected” smoked salmon range until it was abruptly dropped at the start of April.
Following the loss of the contract, which was thought to account for between 50 – 70 per cent of Bleiker’s turnover, the company appointed FRP Advisory in an attempt to find a buyer for its brand and plant or to restructure the business. A small number of employees were kept on to help the company supply its remaining contracts.
When a buyer could not be found by April 28, the company entered administration with staff made redundant and the business ceasing trading. Despite this, joint administrators Martyn Pullin and Phil Pearce of FRP Advisory continue to seek a buyer for the company and its assets.
FRP Advisory said: "After the loss of a significant contract, the business began consultation with its employees. The business and assets were marketed for sale, but a buyer could not be found.”
Aside from its contract with Aldi, through which it supplied the supermarket with RSPCA-approved raw material, Bleiker’s branded products are also sold at supermarkets including Morrison’s, Sainsbury’s and Tesco.
Prior to the loss of its contract with Aldi, in its financial reports for the year ending April 30 2021, Bleiker’s reported a post-tax profit of £296,138 on turnover of £14.09 million. The company’s fixed assets were valued at £1.47 million and current assets at £3.8 million, with net assets amounting to £2.4 million.
In a statement, joint administrator Martyn Pullin said: "Bleiker’s was a family operation with a track record of supporting both major and independent retailers. The loss of a significant contract left the business in a difficult financial position. Regrettably, the insolvency has meant that the business is no longer able to continue trading and redundancies have been made.”
Pullin added: “We are now focused on exploring options to sell the business and its assets and encourage any interested parties to come forward.”
Find out more about attempting to sell a business prior to insolvency.
View the latest distressed UK businesses here.
View recent UK administrations.
A renowned venue, fronting busy sought after thoroughfare, close to attractions, main shopping High Street with its national retailers, and commercial district with numerous office blocks. Totally refurbished in recent years at a cost in excess of £2...
This is an exceptional opportunity to acquire a well-established and reputable Pan-Asian/Noodle restaurant in the heart of Glasgow's West End, benefitting from a prime trading position amidst a bustling retail and licensed area.
LEASEHOLD
An established fish and chip shop in the heart of Edinburgh is now available for sale, offering a fantastic opportunity to own a popular and thriving business with loyal customers.
LEASEHOLD
07
|
Jul
|
Independent property firm acquires Blackpool estate agent | BUSINESS SALE
An estate agent based in Blackpool has been acquired by grow...
07
|
Jul
|
Poke restaurant chain acquires rival | BUSINESS SALE
Honi Poke has acquired rival poke chain Island Poké i...
07
|
Jul
|
MSP Contrac IT set for M&A growth after acquisition by telecoms group | BUSINESS SALE
Venridge Limited, a Yorkshire-based managed services provide...
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.