Fri, 12 Oct 2012 | BUSINESS SALE
Administrators have confirmed that they are looking to sell Paramount Foods as an actively trading company.
It was confirmed earlier this week that Paramount Foods had entered administration due to the recent loss of a major customer, which left the company “without any prospect of returning to profitability” through the turnaround plan it embarked on earlier this year.
Now, David Whitehouse, administrator and partner at Duff & Phelps, has confirmed that the plan is to put up the business for sale. Mr Whitehouse commented: “On appointment and as a consequence of the Company's insolvency, the joint administrators suspended operations whilst urgent discussions were held with key customers and parties who may be interested in acquiring some or all of the business.
“As a result of those conversations with the positive support we have received from key customers, the Company has resumed trading with the aim of securing an ongoing trade sale of the business and its assets.”
The administrator added that a number of redundancies were still required in order to provide “an opportunity to continue to trade the business in the short term”. A total of 118 jobs have been lost between the two Salford and Deeside sites, with immediate effect.
A rare chance to acquire a Midlands-based retail designer renowned for custom shop fittings and innovative design solutions, complete with in-house design and manufacturing capabilities.
This mixed dental practice offers a predominantly private service with the addition of NHS general and orthodontics contracts, benefiting from a large and loyal patient base as well as a thriving hygiene function.
LEASEHOLD
This is a reputable drainage solution company with a long-established presence and an excellent reputation in Somerset.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.