Howard Smith and Mark Firmin of KPMG’s restructuring practice have been appointed joint administrators to North East business David Price Food Services.
The business comprises a cold storage division, with facilities in Wallsend and Glasgow which the administrators sold to Ice Company Distribution Ltd shortly after appointment, saving 29 jobs.
However, the chilled haulage division of the business has stopped trading with immediate effect and unfortunately 109 employees have been made redundant. Five employees at the head office in Wallsend will be retained in the short term, to assist with the administration.
The haulage operations were based at six depots in Bristol, Bury St Edmunds, Glasgow, Gillingham, South Kirby (Yorkshire) and Wrexham.
The appointment of administrators to the business results from a period of poor trading and an increased cost base, primarily due to fuel and utilities costs.
Alison Anderson, KPMG Corporate Communications
T: 0113 254 2980 E: email@example.com
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