Partner Article

Sunderland wholesaler goes under

A Sunderland-based meat wholesalers, which once had an annual turnover of £1.2m, has been placed into administration and has ceased trading.

It is understood that Ashbrooke Foods had reportedly run up substantial debts and the administrators SFP then took the decision to close the business.

SFP’s Daniel and Simon Plant – both licensed members of the Insolvency Practitioners’ Association – were appointed joint administrators of Ashbrooke Foods on 24 January 2011.

The company had an annual turnover of £1.2m and employed six people at its warehouse.

Simon Plant, group partner at SFP, said: “Cashflow management is vital for the health of a business, and when debts build up, if help is not sought straight away then a company faces the chance of failing.

“Despite efforts to of finding an alternative solution, Ashbrooke Foods has now ceased to trade and the assets are being sold to secure funds to repay the creditors.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .