Caterway, the Nottinghamshire wholesaler which carved out a niche for itself by serving the fish and chip shop trade, has ceased trading after failing to secure fresh investment, it emerged this week. Over 20 jobs have been lost.
Caterway, which is also a Landmark Wholesale member, is now in the hands of administrators Chris Stirland and Nathan Jones of FRP Advisory, who were appointed to Caterway Ltd late last month.
The company, which can be traced back to the 1930s, was headquartered in Sutton-in-Ashfield and supplied products such as frying oil, batter mixes, cutlery, fish, pies, chicken and drinks to the takeaway, restaurant and hotel sectors.
It had been trading in its current form for more than 30 years and had 600 customers in the UK and Europe.
Stirland, a partner at FRP Advisory, said: “It is deeply regrettable that a company with over 30 years of trading and a large regional and international customer footprint has had to shut up shop.
“Caterway had come under increased financial pressure in recent years and worked hard to find a viable solution for the business. Attempts to seek investment and buyers for the business failed to materialise leaving the directors with no choice but to seek the protection of administration.”
Stirland added that a reduction in cash flow after a short period of trading had forced the joint administrators to make its 22-strong workforce redundant.
“As joint administrators our immediate focus will be to assist former staff with the necessary support to submit timely claims to the Redundancy Payments Service,” he added. “We will continue to market the assets of the businesses to realise all that is possible in the interests of creditors.”