Mon, 05 Aug 2019 | ADMINISTRATION
Spudulike food outlets have closed in locations across the country after the company announced it has entered administration.
All branches of the food chain, which serves oven-baked potatoes with a choice of toppings, have been closed after administrators were appointed at the beginning of the month. All staff members have also been made redundant, having received a letter from the administrators detailing the claims process for any outstanding wages.
Communication from the company's head office has revealed that the firm has been struggling as a result of "financial pressure" in the last couple of years, which has resulted in the chain's management exploring a number of options in an attempt to save the business.
However, repeated failures have now resulted in Neil Bennett and Alex Cadwallader of Leonard Curtis being appointed as joint administrators and tasked with dealing with the next step.
A letter from the company sent to staff members also revealed that the company has previously sought a buyer in
a bid to avoid closing outlets. It read: "Following an unsuccessful attempt to agree a Creditors’ Voluntary Arrangement, this has involved seeking a purchaser for certain profitable locations operated by the business, including your site.
"Unfortunately, we have been unable to conclude for a sale of the business before circumstances have required action to be taken to safeguard the assets of the Companies operating under the Spudulike Group from creditor action."
Spudulike has food outlets across England and Scotland. The first restaurant opened in 1974 in Edinburgh and was transformed into a franchise by the end of the decade.
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