Business advisory firm Quantuma has advised on the pre-pack sale of food supplier Premier Cheese Ltd to Premier Fruits (Covent Garden) Ltd.
Business advisory firm Quantuma has advised on the pre-pack sale of food supplier Premier Cheese Ltd, to Premier Fruits (Covent Garden) Ltd.
Based in Bicester and founded in 1998, Premier Cheese is a national food supplier, specialising in British and continental cheeses and charcuterie. The business had depots in Bicester, Bristol, Redditch, Leeds, Kettering, Crawley and London.
The company ran into financial difficulties following a fall in sales and the rising costs of depots. The directors of the company sought an investor or buyer but were unable to secure further backing and in the wake of building creditor pressure, sought support from Quantuma.
Quantuma Partners Andrew Watling and Carl Jackson were appointed administrators to the company on 26 March 2019, and immediately completed a pre-pack sale of the business to Vauxhall-based food service provider, Premier Fruits.
The sale is set to safeguard over 40 jobs, provide returns to unsecured creditors and enable the company to continue trading.
Partner at Quantuma, Andrew Watling, commented: “Our involvement in the administration of Premier Cheese sees
over 40 jobs saved, the rescue of a well-established brand and a return to unsecured creditors. Without our intervention, it is likely that the company would have entered liquidation, resulting in the shutting down of all depots, the loss of many jobs and no return to most creditors.”
Notes to Editors
Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. Offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol, Manchester, Ringwood and Weymouth. In July 2018, the firm opened two international offices in Cyprus (Nicosia and Paphos).