Sandwich maker sold out of administration

The business and assets of the Chester site of Tasties of Chester Limited have been sold out of administration, saving all 188 jobs.

Tasties operated from two sites in Heathrow and Sandymouth, near Chester, specialising in the preparation of sandwiches, toasties, salads and other food-to-go products, servicing retailers, airlines and railway franchisees.

Latest accounts show the company had a turnover of £12.7m and pre-tax profits of £208,000 for the year to the end of June 2016.

But the business later suffered cash flow difficulties following the opening of a second facility in Stockley, near Heathrow. The £4m investment was part of a plan to triple its manufacturing capacity and improve distribution links within the South of England.

The 40,000 sq m site was sold by the company to trade buyer Greencore prior to administrators being appointed – preserving 91 jobs.

The Chester business and assets of Tasties have been sold to a newly formed company, Street Eat Foods Limited.

Steve Muncaster and Trevor Birch, managing directors at Duff & Phelps, were appointed joint administrators and led the sale process.

Muncaster said: “The Tasties deal was a complex transaction due to the separation of the two sites and the involvement of numerous stakeholders.

“We are pleased that we have been able to assist the company and its stakeholders in facilitating a solution that has preserved the Chester business and, most importantly, secured the jobs of 279 employees across the two sites.”

The Chester business and assets of Tasties has been sold to a newly formed company, Street Eat Foods Limited, which will operate the business going forwards.