Mon, 25 Mar 2024 | BUSINESS SALE
Universal Supply Chain & Solutions, a Northampton-based packing and logistics company, has been acquired in a pre-pack deal after falling into administration. The company collapsed earlier this month, as a result of several adverse factors.
The family-run company specialises in co-packing, as well as providing full supply chain logistics fulfilment and flexible warehouse services. The firm core offering is in seasonal promotions and, more recently, it has diversified into packaging for the food and cosmetics industries.
As well as management team comprising 13 full-time staff, the company also employs up to 200 agency staff during peak trading periods.
However, the company had begun to suffer in recent times as a result of the combined impact of the COVID-19 pandemic, Brexit, the war in Ukraine and the loss of major supermarket orders.
Deviesh Raikundalia and Tyrone Courtman of RSM UK Restructuring Advisory were appointed as joint administrators of the company on March 12 and secured a pre-pack sale of the business to Universal Food, Beverage and Luxury Gift Packaging, which is connected to the company by a former director.
Joint administrator Deviesh Raikundalia commented: “Universal Supply Chain & Solutions Ltd is an established company in the East Midlands, and it is unfortunate they have suffered over the last few months due to factors outside of their control.
“Given the ongoing business challenges, we are pleased to have helped save the future of the company, which will ensure continuity of service at the specialist facility and, more importantly, preserves employment for its skilled workforce.”
Prakash Mistry, Managing Director of Universal Supply Chain & Solutions, said that the company had “experienced a period of downturn in the business caused by the loss of a few lucrative contracts.”
He continued: “With the help of RSM, we are pleased that Universal Foods have acquired the business as well as the assets, securing employment for all of the employees and staff, and allowing continuity of supply to our loyal customer base with little disruption.
“With the continued support of our key stakeholders, we will be able to offer high standards of quality and service, including investing in new equipment to improve efficiencies over the next few years.”
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