Buyer found for B Riley & Sons
A BURNLEY-based abattoir and meat processing business that went into administration in December has been bought out of administration.
B Riley & Sons closed as a result of significant cash flow problems and all 130 employees were made redundant.
The business is BRC accreditation and focusses primarily on sheep throughput for the Halal wholesale market in the UK and EU, but also has beef capabilities.
Joint administrators Paul Flint and David Standish of KPMG have completed a sale of the business and key assets to Dale Valley Rossendale Limited.
The agreement sees Dale Valley Rossendale acquire seven properties, including an abattoir in Dunnockshaw near Burnley, and other assets including plant and machinery.
Paul Flint said: “B Riley & Sons was one of the largest independent abattoir and meat processing businesses in the North of England, and a major supplier of lamb to the European market. We are therefore delighted to have been able to conclude this complex sale following a six month marketing and negotiation period, and particularly in light of the events of the last seven days.”
The company and its joint administrators were assisted by Sanderson Weatherall and Eversheds on the transaction.