Your top 10: food firm administration; clicks for bricks; and recruiter MBO
THIS week’s best read story was the news that broke on Friday that a Widnes-based food manufacturer had entered administration.
£8m turnover Key Food Ingredients and sister firm Simplea Foods had been hit by volatile cream and butter prices earlier this year. The administration also affects Key Distribution, the firms’ warehousing and distribution division, which was expanded in February 2016.
Administrators at KPMG said they were retaining 39 of the 44 staff for the time being, whilst they review operations and look to sell the business.
Meanwhile the news that Liverpool councillors have given the green light for an £82m, 34-storey PRS tower on Princes Dock also got you clicking.
The Lexington, which will be delivered by joint venture partners Moda Living and Apache Capital, will create a new landmark in Peel Group’s Liverpool Waters £5.5bn regeneration zone.
And finally, temporary worker recruitment firm de Poel has been acquired in a multi-million pound management buyout led by group managing director Andrew Preston and his senior management team.
The team has acquired a majority stake in the Knutsford-headquartered business to support further expansion and the continued development of products, technology and sector-specialisms. Tosca Debt Capital, based in Manchester, provided a facility to support the MBO.
Founded in 2001 by entrepreneur Matthew Sanders, de Poel generates revenues in excess of £700m and its clients span the NHS, public sector and well-known privately-owned brands.
This week’s top 10:
