Butcher business sold by joint administrators in £1.4m deal
Crawshaw Group, the Rotherham-based listed butcher, has confirmed that its 19 remaining stores and a distribution facility have been sold in a deal worth £1.4m.
Joint administrators were appointed to run the group on November 2.
The fresh meat and food-to-go retailer operated 54 stores in the North of England.
But on November 5, the joint administrators announced that they were making a total of 354 people redundant through the closure of 35 locations.
This involved 170 people across the North West at 17 shops, an office, and a factory.
Crawshaw Group continued to trade from 19 stores, which remained open and were trading as normal.
The purchase by Loughanure Limited, a newly-formed company for the purpose of this acquisition, was completed on December 1, and has secured the jobs of around 240 employees of Crawshaw.
As a result of the sale, Crawshaw has ceased to trade.
The trade of the listed business will now be continued by Loughanure.
Robert Hunter Kelly and Charles Graham John King were appointed as joint administrators to Crawshaw Group, Crawshaw Butchers Limited, Gabbotts Farm Limited and East Yorkshire Beef Limited on November 2, and Gabbotts Farm (Retail) Limited on November 7.
The joint administrators are continuing to market the sale of certain closed stores and related assets, as well as recovering outstanding debtors.
Crawshaw operated 54 butchers’ stores across the North of England and the Midlands, with a distribution centre in Astley, Greater Manchester, and a distribution and production facility in Hellaby, Rotherham.
The remaining 19 stores and the Hellaby production and distribution facility have been sold to Loughanure.
Crawshaw’s only remaining assets are a long leasehold property in Grimsby, short leasehold interests in closed stores, surplus store equipment and a number of vehicles.
Loughanure is majority owned by Thomas Cribbin, who is also involved with Cribbin Family Butchers (Holdings) Limited which previously operated a chain of butchers’ stores in the Republic of Ireland and sold Gabbotts Farm Limited to the company in April 2015.
Squire Patton Boggs advised EY on the sale.
The team was led by John Alderton, assisted by Jenny Jones, Jon Chesman and Emily Davis.
