SPECIALIST insolvency practice Quantuma has picked up the administration of S J Bellows Nurseries Limited, a wholesaler of fruit, vegetables and dairy products, based in Romsey.
Simon Campbell and Carl Jackson [pictured] of Quantuma were appointed as joint administrators to the business, which was placed into administration on 25 April.
The company had recently experienced problems in trying to rapidly increase its turnover in response to new opportunities within its market-place. It had sought third-party financing to plug gaps in its cash-flow, but was unable to implement this swiftly enough to stave off the demands of its creditors. It was forced to cease trading on 22 April.
Simon Campbell, director at Quantuma said “In the short time that we’ve been advising the company, we have made every effort to protect the business and preserve value for the creditors of the company. However, we were unable to hold the customer base together to effect a sale of the business. We will be corresponding with creditors to advise them of our next steps shortly.”
Quantuma was formed by former RSM Tenon head of restructuring Carl Jackson alongside fellow ex-RSM Tenon partners Paul Goddard and Kelly Mitchell.
Partners at the insolvency firm Craig Povey and Kevin Murphy were appointed liquidators on 2 February
Fraser Nicol joins the firm from EY, bringing experience in cyber security, data analytics and business technology
Rowan Williams will be responsible for growing the firm’s presence in the Gatwick Diamond and across the south east
Kevin Humphreys joins the insolvency and restructuring firm from the National Crime Agency (NCA) Economic Crime Command