Wed, 01 Apr 2020 | ADMINISTRATION
Sheffield-based cafe chain Massarella Gelaterie Ltd has been placed into administration by its parent company, leading to the closure of its 32 outlets.
All 32 outlets operated in House of Fraser stores, employing 340 staff. Director Daniella Massarella confirmed that the administration followed the cafes’ closure on March 20, under government guidelines.
Andrew Nichols and John Butler of Redman Nichols Butler have been appointed joint administrators for the business, with a spokesperson saying: "Regrettably due to the current health and economic crisis, Massarella Catering Group Ltd was left with no other option other than to appoint administrators over Massarella Gelaterie Ltd.”
In its most recent accounts, for the year ending December 31 2018, Massarella Gelaterie Ltd declared turnover of £13.7 million, down from £15.1 million for the year prior. At that time, the company had current assets of £1.75 million, down from close to £3.75 million the year before.
The administrators confirmed that parent company Massarella Catering Group Ltd and its remaining subsidiaries would be unaffected by the administration.
Massarella Catering Group is a family run business that traces its origins to an ice cream business founded in 1864 by Italian émigrés to Sheffield. Prior to the coronavirus epidemic, the group operated over 120 cafes and restaurants throughout the UK. Its other brands include Cafe Zest, Angelica’s Tea and Cake and Caffe Botanico.
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We are pleased to present to you this excellent high income generating business. Currently a running business, currently earning £20,000 p/w approx.
LEASEHOLD
Develops and produces innovative sauces and condiments, as well as a range of handmade, industry-specific frozen products, providing customers throughout the UK and Europe with a flexible and professional service.
FREEHOLD
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