Thu, 17 Aug 2017 | ADMINISTRATION
A family-run business based in Tonbridge, Kent, has gone into administration at the cost of around 260 jobs.
Southern Salads, which has ceased trading with immediate effect, specialised in supplying fresh salads to supermarkets, restaurants and travel chains across the UK.
Ian Vickers and Chris Stevens, partners at FRP Advisory, have been appointed joint administrators, and stated that their most pressing priority was to make sure all those who have been made redundant were fully supported with their claims to the Redundancy Payments Service.
"Southern Salads, a family-run Kent-based business, had traded for around 30 years, and managed over the years to deal with the increasingly competitive pricing pressures from supermarkets and other retail chains faced by all food supply businesses.
"Despite successfully producing over 50 tonnes of salad per day for its array of customers, the company faced an unprecedented pressure on cash flow in the immediate aftermath of last summer’s EU referendum vote.
"The company was unsuccessful in negotiating any significant changes to its pricing terms with its suppliers in mainland Europe, while also being unable to pass on its cost increases to supermarkets and its other customers," said Mr Vickers, adding that the company relied on European suppliers for their produce.
Tom Tugendhat, the MP for Tonbridge and Malling, expressed his regret over the closing of the company.
Contact the administrators here
Subscribe to Business Sale Report here.
This practice, which was established in 1955, is available for sale due to the impending retirement of the partners. Requirements: One of the partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers...
FREEHOLD
This practice, which was established in 2008, is available for sale due to the impending retirement of the partners. Offers invited.
LEASEHOLD
This practice, which was established in 1985, is available for sale due to the impending retirement of the partners. Offers invited.
LEASEHOLD
|
17
|
|
May
|
Greater Manchester staffing firm acquires security services company | BUSINESS SALE
A security services business headquartered in Newton-le-Will...
|
16
|
|
May
|
Midlothian IT company enters administration with assets up for sale | ADMINISTRATION
An Edinburgh-based IT firm has collapsed into administration...
|
15
|
|
May
|
Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE
Challenge TRG Group, headquartered in Wigan, has successfull...
Sign up to receive our acquisition alert emails to get your FREE guide
|
17
|
|
May
|
Greater Manchester staffing firm acquires security services company | BUSINESS SALE
A security services business headquartered in Newton-le-Will...
|
16
|
|
May
|
Midlothian IT company enters administration with assets up for sale | ADMINISTRATION
An Edinburgh-based IT firm has collapsed into administration...
|
15
|
|
May
|
Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE
Challenge TRG Group, headquartered in Wigan, has successfull...
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