It is likely that Paul Ellison and Gareth Roberts of KRE Corporate Recovery LLP will be appointed as Joint Administrators over the project company shortly, which is the winner of 65 International awards including Best British Rum Brand. An aborted fundraise caused by the onset of the Covid-19 lockdown is the reason for the distress. The product now is established in the market place and ready for exploitation by further investment.
The proposed Administrators are seeking bids for the assets and business.
- Launched in 2018 to turnover of £217,000 in 2019
- 33 % product margin
- 60 % of sales are in the UK; 33% Exports to 6 other countries and 8% sold to Travel Retail customers
- Stock with cost value of circa £112,000
Interested parties should sign an NDA which is attached and return to Chris Errington (firstname.lastname@example.org). Expressions of interest for the business and assets are required by 5pm on 3 June 2020 with indicative offers to be received by 5pm on 8 June 2020.
If you require any further information please contact Chris Errington (email@example.com) or alternatively call us on 01189 47 90 90.