A JOHNSTON CARMICHAEL liquidator has been called in to wind up Stirling-based drinks business Get Juiced.
Donald McNaught, (pictured) director of insolvency at Johnston Carmichael’s Glasgow office, has been appointed liquidator to the business which brands itself “Scotland’s fresh juice company”.
The company started as an enterprise borne out of a St Andrew’s coffee shop about 15 years ago and expanded significantly during that time to provide juices and smoothies to a range of supermarkets, hotels, bars and restaurants.
McNaught told Herald Scotland that the expansion drive the business had tried to achieve had narrowly failed and that the liquidation would most likely lead to the loss of about 20 jobs.
“It was definitely at the growth stage of the business cycle. They had a pretty significant cash burn as they looked to develop new products and looked to extend the customer base.
“They were very much aiming for volumes of business – later on, had they achieved the volumes, the cost base would have been more commensurate with that.
However, he added Get Juiced has an established brand something he believed “will attract a lot of interest from potential buyers”.
“My immediate aim is to preserve the value of the brand and goodwill by achieving an early sale of the business and its assets.”
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children