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.
One of the top job search portals - developed in-house - with over 1m UK-based vacancies available from employers operating in nearly all sectors across the UK. Also develops & operates a series of complementary platforms & mobile apps for use within...
Manufacture and supply of high quality, hard metal, flanges and butt welds with machining services. Enviable reputation. Niche offering. Long standing relationships with suppliers. In-house manufacturing capabilities. Diverse client base including m...
Public and private sector road surfacing and civil engineering contractor with a prestigious Royal Warrant for Road Maintenance. Provides roadworks, groundworks and civil engineering services. Diverse customer base including Royal Estates, local auth...
|
19
|
|
Jan
|
Luxury lodging group enters administration | ADMINISTRATION
An Essex-based company which operates eight luxury lodge par...
|
17
|
|
Jan
|
Fine paper business enters administration | ADMINISTRATION
Arjowiggins UK, which operates a number of trading companies...
|
15
|
|
Jan
|
Hawk Plant enters administration | ADMINISTRATION
The Shropshire company, that has previously undertaken landm...
Sign up to receive our acquisition alert emails to get your FREE guide
|
19
|
|
Jan
|
Luxury lodging group enters administration | ADMINISTRATION
An Essex-based company which operates eight luxury lodge par...
|
17
|
|
Jan
|
Fine paper business enters administration | ADMINISTRATION
Arjowiggins UK, which operates a number of trading companies...
|
15
|
|
Jan
|
Hawk Plant enters administration | ADMINISTRATION
The Shropshire company, that has previously undertaken landm...
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