Pasta Reale Limited (01963438): administration
- Status
- Administration ended
- Administration began
- 2014-08-26
- Administrators
- Christopher Kim Rayment, William Matthew Humphries Tait
- Administrators' firm
- BDO
- Incorporated
- 1985-11-22
- Location
- Gatwick
- Industry
- 10730 Manufacture of macaroni, noodles, couscous and similar farinaceous products
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 22 November 1985 by the Lopalco family and operated as food manufacturers with specific focus on pasta based goods.
The Company’s main income in recent years has been generated from sales to major supermarkets
In late 2012 Ranworth Capital Limited (“Ranworth”) entered into an agreement to advance a secured loan to the Company and took an option to acquire a majority stake in the Company. In December 2012 Ranworth exercised this option Matthew Ferrey, a director of Ranworth joined the Company’s board as a non-executive director
Administrators' statement of proposals (2014-10-27) · Companies House register