Direct Fruit Supplies (Leeds) Ltd has been acquired by its director in a pre-pack administration.
Brendan Guilfoyle and Chris White of the P&A Partnership, who were appointed administrators of the business, have sold it to Michael Marcus, son of the original founder. Marcus has run the business since the 1980s, and this week's deal is said to have secured 17 staff jobs.
Family-run Direct Fruit Supplies, which was established in 1957, provides fresh food to restaurants, pubs, hotels, universities, prisons and contract catering companies. Its clients include the Royal Armouries, Leeds City Council and Leeds University.
Guilfoyle said: “The company has suffered cashflow problems for some time and P&A were appointed as administrators when it became unable to meet its financial commitments. Mr Marcus has now acquired the assets of the business and is continuing to trade and keep on the existing staff.”
Asset consultants Charterfields conducted the marketing of the business prior to advising on the sale. Its director, Ian Maycock, added: “We carried out a marketing campaign to find a buyer for the business and attracted interest from a number of parties. However it was clear from an analysis of the bids that the offer from Mr Marcus provided the best outcome and returns for the administration and, importantly, has secured the jobs of 17 people.”
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