Potato supplier rescued in pre-pack deal

Written by companyrescuelondonadmin 3 April 2017

After suffering from a poor harvest in 2012, the potato supplier, Holme Farm Produce, called in the administrators on the 21st July. 

The company supplies washed and packed potatoes into various specifications for a range of supermarkets and caterers. 

Soon after Peter O’Hara and Simon Weir of O’Hara & Co were appointed joint administrators, the company was sold to linked company in a pre-pack deal, saving 40 jobs. 

After one of the wettest summers in 100 years, 2012 resulted in very poor potato growing conditions. The company attempted to restructure the business, however, as issues were unable to be resolved, Holme Farm felt administration was the best solution to safeguard the business.

While there is some controversy around pre-pack administrations, they are ultimately a better solution than say liquidation (for both company and creditors). Employee jobs can be saved and the business can continue. If the company went into liquidation, all staff would be made redundant, the business would cease trading and creditors would likely receive nothing ba