BusinessBusiness RecoveryFRP administrators called in at Heinz supplier

FRP administrators called in at Heinz supplier

Phil Armstrong and Nick O'Reilly are appointed administrators to PoleStar Foods and Okehampton Desserts

FRP ADVISORY administrators have been called in at desert products suppliers PoleStar Foods.

Phil Armstrong and Nick O’Reilly were appointed joint administrators to both PoleStar, who also supply Heinz products, and Okehampton Desserts.

Both businesses were bought by Privet Capital last November when they faced collapse. However the restructuring of the business was not able to solve the business’ cashflow problems, said Armstrong.

“The Companies unfortunately did not represent a viable purchase as a going-concern. The Directors, therefore, sadly had to make 232 employees at the Okehampton site redundant on Tuesday, 1 February, prior to our appointment,” he added.

“We are now working towards an outcome where a buyer can be found for the operation, in the hope that some staff can be re-employed under new ownership.”

 

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