Jobs lost as kitchens specialist folds
Leeds-based distributor YCE Catering Equipment has gone into administration after the firm’s directors were unable to find a buyer to take it over as a going concern.
The business has ceased trading and all 25 members of staff, most of whom were furloughed, have been made redundant.
The company, which was established in 1980 and provided kitchen design, installation and maintenance services nationwide, was hit by financial difficulties caused largely by the impact of the coronavirus pandemic on the hospitality industry.
Julian Pitts and Richard Kenworthy of Begbies Traynor were appointed as joint administrators of the business on 28 August and have received interest in the intellectual property and other assets of the firm from potential buyers.
Managing director Nick Brassett said: “Following weeks of negotiations it is with a heavy heart that the administrators have been called in.
“A slower than expected 2019, compounded by the devastating effect of Covid-19 led to a significant loss of revenue which, in the current climate, the business couldn’t recover from.
“We are devastated for our suppliers and our customers but particularly our team, many of whom have been with us their entire careers.
“We tried very hard to forge a way through these unprecedented times, but unfortunately without success.
“We’d like to thank everyone who has supported us throughout this process and worked with us during these last 40 years.”