DBC Foodservice has been put up for sale by its board “in the light of the very challenging trading environment with which the business has recently been confronted”.
In a statement it said a review has been undertaken in consultation with its bank, and several external professional advisers, and as a result the board had determined that the best approach to maximise customer service and deliver business continuity was to seek a sale of the business.
It also revealed that there were a number of interested parties and that positive discussions had already commenced.
Andrew Ramsden, who was only reappointed chief executive of DBC Foodservice last week, said: “Given the recent challenges we have concluded that a sale of the business provides the best solution for DBC’s employees, customers and suppliers alike. We therefore ask all of them for their continued full support, which will provide the best opportunity for a successful sale and the most mutually beneficial outcome. We will keep all parties informed as the sale process progresses.”
DBC reported a £4.95m loss in the year to 25 March 2011 compared with a profit of £1.26m the previous year.