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

Precision Cutting Tools Provider
North East, UK

Operates across a diverse range of sectors, with no reliance on any key client accounts. Skilled workforce with extensive expertise within the sector. Operates from leasehold premises in North East England. Offers invited

Asking Price: Offers Invited
Turnover: £685,000

LEASEHOLD


Electrical Appliance Retailer & Wholesale
Stalybridge, Manchester, UK Wide

The business for sale is a family owned, electrical appliance retailer and wholesaler based in Stalybridge, Greater Manchester. This business sells a wide range of freestanding and integrated kitchen and home appliances from washers, dryers, sinks, k...

Asking Price: £260,000
Turnover: £938,603

LEASEHOLD


Furniture Manufacturing Company
Surrey, South East, UK

Now available to the market is this brilliant furniture manufacturing company in the south of England. Trading since 1996, this family run business has been supplying high quality wardrobes complete with sliding or hinged doors, with the ability to m...

Asking Price: £599,995
Turnover: £935,135

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
06
 
Dec
 

KPMG agrees to sell pensions arm | DIVISION SALE

Professional services network KPMG has announced that it has...

 
05
 
Dec
 

What a Labour government would mean for UK entrepreneurs | BUSINESS NEWS

Private business mergers and acquisitions expert Sue Green o...

 
05
 
Dec
 

MBO at Bolton-based delivery comparison firm | MBO/MBI

Bolton-based parcel delivery price comparison company Parcel...

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