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Farm to restaurant

Reference
D8132
Turnover
£2m to £5m
Sector(s)
Food & drink, Technology
Region(s)
London, South East England
Added
13 October 2021
Offers required by
October 26, 2021 - 6:00pm

Business description

PROJECT FARM TO RESTAURANT

Expect to be appointed as Joint Administrators over the project company in the next few weeks.

The proposed Administrators are seeking bids for the assets and business.

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OVERVIEW

·         The Company was incorporated in 2015 and its online marketplace creates a digital food market whereby suppliers can communicate, trade and manage restaurants directly.  The business equips chefs with the means to buy locally and support sustainable farming.

·         Pre pandemic the Company achieved turnover of £4.8m and was heading to breakeven.

·         A Company Voluntary Arrangement was proposed, approved and completed successfully such that all sums due from trade suppliers are settled.

·         The Company’s main creditor is a £250,000 CBILS loan.

·         The Company is approaching breakeven however management’s view is that the business is susceptible to further Covid-19 disruptions and a sale to a third party would be beneficial.

·         The Company currently has 60 active restaurant customers and 30 consumer customers.

TIMEFRAME

Interested parties should sign an NDA.  Expressions of interest for the business and assets are required by 5pm on 22 October 2021 with indicative offers to be received by 5pm on 26 October 2021.

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