Loscoe Chilled Foods Limited (02744854): administration
- Status
- In administration
- Administration began
- 2023-04-03
- Administrators
- Steven Phillip Ross, Allan David Kelly
- Administrators' firm
- FRP Advisory
- Formerly
- Speed 2956 Limited
- Incorporated
- 1992-09-03
- Location
- Newcastle upon Tyne
- Industry
- 10130 Production of meat and poultry meat products
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company produced a full range of superior quality meat products and specialised in cooked and cured meats for the UK retail industry, specifically the largest foodservice companies and superstore retailers. The business has been in existence for over 100 years, albeit this company has been incorporated since September 1992.
The Company’s Director was Daniel Robert Ryde. The shareholder was Edward Ryde & Sons. The Company employed 91 people.
The company occupied 2 sites in Loscoe with the primary trading address located at Grange Farm Factory, Heanor Road, Loscoe, Heanor, DE75 7JT. The Company was trading profitability but has ceased to trade after its British Retail Consortium Global Standards (“BRCGS”) licence was suspended as the business has been subject to a National Food Crime Unit investigation. During March 2023, the company advised that they were fully supporting the Food Standards Agency with an investigation into an isolated issue concerning sliced corned beef supplied to a single customer in March 2021, and they further communicated that this was not a food safety issue with no suggestion that any other customers had been affected. However, the subsequent cancellation of customer contracts and revocation of orders left the business insolvent and unable to meet its financial obligations including responsibilities in relation to the dedicated meat processing premises comprising over 100,000 square feet and the employees still employed. Prior to this point, the company was not under any financial pressure as it had been trading profitably and enjoyed the full support of Edward Ryde
Administrators' statement of proposals (2023-05-25) · Companies House register