Liquidators appointed to cake business

LIQUIDATORS have been appointed to cake retailer Fancie following a creditors’ meeting.

Founded in 2007 by former chef Amanda Perry, the Sheffield company opened its first shop in Sharrowvale Road in 2009 and had grown to encompass four shops and a bakery spread across the city.

Fancie’s debts include £136,000 owed to trade creditors, £14,000 of bank debt, and £35,000 owed to HM Revenue & Customs.

Perry has set up a new company FC & Co, which is currently occupying Fancie’s former premises on Ecclesall Road; Sharrowvale Road; and The Winter Gardens.

Fancie’s shop in Meadowhall closed in May. There were no staff employed by the company at the time of its liquidation.

“It is very unfortunate that such a popular local business has had to go into liquidation,” said joint liquidator Adrian Graham of Begbies Traynor in Sheffield.

“It seems that the Meadowhall unit was a drain on the company’s finances and its debts include a five figure rates demand for the outlet there. Fancie also suffered from increased competition leading to cash flow problems.

“We are currently investigating the company’s financial situation, including the details of its property leases and its assets. The position for creditors is uncertain until all assets have been realised and they will be informed of the outcome in due course.”

Perry added: “It is very sad that after all our hard work we have been unable to continue trading Fancie despite closing the Meadowhall outlet over a month ago.

“We would like to thank our loyal customers for their support over the last four years.”