Thomas Tucker popcorn company falls into administration

Tue, 24 Sep 2019 | ADMINISTRATION



Thomas Tucker Limited, an independent popcorn manufacturer that supplies to cinemas and supermarkets across the company, has collapsed into administration.

Insolvency specialists Mazars have been called in to handle the administration process, with partners Adam Harris, Michael Pallott, Patrick Lannagan and Scott Bevan appointed as joint administrators.

Established in 1988 in Nottinghamshire, Thomas Tucker Limited is behind the Tommy Tucker, Thomas Tucker, Family Bakery and Krax brands. The company is based in North Anston, Sheffield.

However, in August this year, the company was forced to recall a number of its products under the assumption that it contained undeclared milk, which posed as a health risk to those who have allergies.

In spite of this, the administrators are hopeful that the company can be sold as a going concern.

Adam Harris said: “The business has had a difficult year and had undergone an operational restructure and further investment by its owners.

“Whilst the underlying cause was disputed, the business agreed to a voluntary product recall following an ongoing investigation with the Food Standards Agency. The recall has resulted in significant losses, pressure on working capital and, following a review, there were insufficient further funds available to bridge the shortfall identified.

“Nevertheless, we are hopeful a sale will be achieved in light of the business's reputation for quality and its dedicated workforce. A going concern sale would secure the best outcome for the business's suppliers and customers and secure a future for the remaining employees.”


Share this article



Latest Businesses for Sale

Turkish Restaurant
Ilford, Essex, South East, UK

The business for sale is a busy Turkish restaurant in Ilford, Essex. Operating as a Turkish restaurant since 2015 and under present ownership for 3 years, the business has seen phenomenal growth, its array of authentic, freshly made Turkish dishes at...

Asking Price: £380,000
Turnover: £768,000

LEASEHOLD


Michelin Guide Listed Restaurant
Wiltshire, UK Wide

High quality food and service. Large premises recently refitted to an exceptional standard. Beautiful waterfront location. Inviting, relaxing interior and ambience. Brilliant online reviews. Offers invited.

Asking Price: £250,000
Turnover: £512,232

LEASEHOLD


Bakery
South East, UK

This is a rare opportunity to acquire a longstanding and well-regarded business with fantastic scope for further growth. The award-winning, family-run bakery profits from strong branding and an impressive loyalty scheme. The company has six retail sh...

Asking Price: £1,800,000
Turnover: £1,500,000

FREEHOLD



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


Related News

 
14
 
Aug
 

Egg supplier enters administration | ADMINISTRATION

Egg producer Blackdown Hills Enterprises Limited has been pl...

 
16
 
Aug
 

One St Peter's Square bought for £164m | COMMERCIAL PROPERTY

One St Peter's Square, the landmark office building hom...

 
18
 
Dec
 

Administrator hopeful of buyer for corporate events business | ADMINISTRATION

Corporate events organiser Happy People Corporation Ltd, whi...

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