7 August 2006
Bartlett Catering Equipment, a British manufacturer of industrial catering equipment, has ceased to trade after its Joint Administrators, Andrew Andronikou and Peter Kubik, partners at our London office, were unable to secure a suitable purchaser.
UHY Hacker Young was appointed Joint Administrators on July 26th 2006, initially making 12 redundancies in order to keep the business afloat while a buyer was sought. The business ceased to trade as of August 3rd 2006 and the remaining 33 staff were laid off.
Peter Kubik, Partner in London’s Turnaround and Recovery Department, comments: “Although we received interest from several potential buyers within the industry, we believe that the staffing costs were probably the decisive factor in deterring acceptable offers.”
“We marketed the business for as long as we could, but in the end insufficient funds meant we were unable to meet ongoing costs while continuing to market the business.”
The name Bartlett Catering Equipment has been in existence since 1832 and was the longest established manufacturer of commercial catering equipment in the UK, and a key supplier to both private and public sectors.
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