Talk to us today in confidence0800 970053907833 240747

Nigel Fredericks Enters Administration

Written by Robert Moore Marketing Manager 18 June 2019

Be the first to comment

Nigel Fredericks Enters Administration

London-based meat and poultry wholesaler, Nigel Fredericks Trading Limited, has been placed into administration.

The company had a small distribution operation in Mansfield, but were based in Colindale, North London. The company supplied many industries including the catering, leisure, hotel and education sectors. 

Previously, in September 2018, it was placed into Administration - though it was rescued when directors and independent shareholders aquired the business. This allowed new equipment to be invested in, however, cashflow problems increased as a result of rising costs, finance lease costs and a reduction in credit insurance. This, accompanied by the UK's decision to leave the EU, led to the company's failure for the second time!

Lisa Moxon and Ben Barrett of Dow Schofield Watts Business Recovery have been appointed administrators. They have been working alongside the directors to attract potential buyers and find a deal, though their attempts have been unsuccessful.

This has left 250 staff redundant and the businesses assets are to be sold off. 

In a statement the company spokesperson said;  ''Conditions in the meat and poultry industry have been difficult and Nigel Fredericks Trading Limited has come under pressure from a range of different factors.'' ''It is with great regret that we have had to announce the closure of this long-established business. However, the directors would like to thank staff, customers and suppliers for all their support''. 

If you are a worried employee who has been made redundant, please see our guide here, for helpful advice and tips. 

Categories: Hospitality, Manufacturing / Engineering, What is administration


Post a Comment

Please keep your comments relevant. Company Rescue reserves the right to edit or delete comments.

The blog postings on this site solely reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of Company Rescue. All comments are made in good faith, and Company Rescue will not accept liability for them. We may contact you in response to your comment – by submitting your comment, you are consenting to this.

To find out more about how we collect, use and protect your data, please read our privacy policy.

You are currently offline. Some pages or content may fail to load.