Businesses for Sale

Distressed Business Opportunity in Food DIstribution


SOLD

Distressed Business Opportunity in Food Distribution

We are instructed to seek offers of interest in a company which is contemplating Administration, in which event it may well lead to a sale by the Administrators.

The company is northwest based, selling and distributing fresh, chilled and frozen food as well as dry goods to restaurants, bars, cafés, schools, etc.

The assets comprise,

·         Office furniture and equipment.

·         Warehouse and materials handling equipment, including large quantity of pallet racking, three forklift trucks and extensive walk-in cold stores/freezers.

·         An unencumbered vehicle fleet of three cars, 10 refrigerated vehicles of assorted sizes plus one van.

·         Stock-in-trade.

There is also one encumbered vehicle in which there is no equity.

The company previously employed between 30 and 40 personnel, but this has been reduced by circa 10 personnel as a result of Covid.

Turnover was in excess of £4m but has been reduced by more than 70% as a result of Covid.

Stock changes daily and whilst some is purchased on a proforma basis, the majority is purchased on credit (typically between 28 and 60 days terms).

Some stock is perishable such as cooked meat, fruit, vegetables, etc., whilst ambient goods have a much longer life of circa nine to 12 months, although the vast majority of stock is nearing its sell by date.

Expressions of interest in the assets, goodwill and IPR must specify the full name of the interested party and be accompanied by proof of funding – they should be submitted in writing only to: -

David W Kay, FNAVA MABRP

Robson Kay Associates Ltd

david@robsonkay.co.uk

 

 

All expressions of interest will be considered, and appropriate enquirers will be forwarded a Non-Disclosure Agreement to sign, following which, further information will be released.

 


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