Sohal Foods rescued out of administration by cash and carry firm

Wed, 15 Jan 2014 | ADMINISTRATION

The future of Derby wholesaler and catering supplier Sohal Foods Ltd, is looking more positive after Hyperama Plc bought it out of administration.

Hyperama, which has three cash and carries in the Midlands, beat the other bidders to purchase the business and assets of Sohal Foods from administrator Dean Nelson of Smith Cooper on 7 January.

Trading for 30 years, Sohal had been hit by cash flow difficulties and a subsequent reduction in its margins. The administrator Mr Nelson was asked to market the business as a going concern, and received many expressions of interest and two formal offers.

Sohal supplies food, drinks and catering supplies to restaurants, takeaways and licensed trade throughout the East Midlands.

The deal has secured Sohal’s 30 employees’ positions. Hyperama is to keep the Derby business as it is, adding it to its existing operations in Nottingham, Peterborough and West Bromwich, and is planning additional investment.

Hyperama’s managing director Marcus Singh said the management team are happy to welcome the newly acquired business and will focus on growth through “introducing our better buying power and range into Sohal Foods while incorporating their outstanding customer service and delivered offering into Hyperama”.

“Rather than cutting costs, we are keeping on all staff and will be investing heavily into the business infrastructure to give it the necessary impetus,” he added.

The administrator benefited from the assistance of Rachel McCahill-Brown of law firm Nelsons Solicitors in the sale.

___________________________________________________________________________
Related information:
Now is the time to buy a business
Latest Businesses in Administration


Share this article



Latest Businesses for Sale

Italian Restaurant/Pizzeria
London, UK

A restaurant has operated on this very prominent, high street corner location for many years and was purchased late in 2016 by the vendor with the intention of adding a retail business to it commercial business. The vendor then invested circa £70,000...

Asking Price: £200,000
Turnover: £550,000

LEASEHOLD


Industrial Textile Services
UK Wide

Serves clients in the automotive, industrial, medical and geotextile sectors. Operates from 16,000 sq ft leasehold premises. Sustains and generates consistent revenue without the need for marketing expenditure. Retirement sale. Offers invited.

Asking Price: Offers Invited
Turnover: £382,000

LEASEHOLD


Confectionery, Nuts & Snacks Re-packer & Distributor
UK Wide

Provides a comprehensive delivery service, with a directly employed fleet of delivery drivers. Highly experienced management team in place, capable of managing day-to-day operations, post-sale. Significant scope for growth with geographic expansion a...

Asking Price: Offers Invited
Turnover: £6,650,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
25
 
Feb
 

Property management platform faces administration | ADMINISTRATION

The parent company of UK property management startup Hostmak...

 
24
 
Feb
 

Clugston Group former headquarters up for sale | COMMERCIAL PROPERTY

St Vincent House in Scunthorpe, which was the headquarters o...

 
21
 
Feb
 

Street food catering firm seeks buyer after entering administration | ADMINISTRATION

Shrewsbury-based catering company MPM Catering has entered a...

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