Administrators appointed at Kent wholesaler Silverstar Foods

Will Wright, Mark Orton and Colin Haig from KPMG Restructuring were last night (July 26) appointed joint administrators to Silverstar Foods Ltd, the  foods wholesaler which owns the Turners Fine Foods brand.

The company, which is headquartered in Goudhurst, Kent, had 3,000 customers and employed 484 people across sites in Goudhurst, Tonbridge, Christchurch in Dorset and Earby in Lancashire. It also operated the Camden Quarter restaurant in Tunbridge Wells.
Upon appointment, all operations ceased to trade and a total of 457 members of staff were notified of their redundancy. The joint administrators have retained a skeleton staff to assist them with fulfilling outstanding orders and effecting a wind-down of the business.
Will Wright, partner at KPMG and joint administrator, said: “Following a period of sustained losses and despite the directors’ best efforts to effect a turnaround and sale of the business, the company was unable to continue to trade and the directors took the difficult decision to place it into administration. Over the coming days, we will commence an orderly wind-down of the business, and will also be speaking to interested parties with a view to trying to secure a sale of the assets. We would encourage anybody who may be interested in acquiring either stock or assets to contact the joint administrators as soon as possible.”
Interested parties are advised to contact Vijay Merchant at KPMG on vijay.merchant@kpmg.co.uk

 

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