# Price & Fretwell Limited (02939604)

> Why UK company 02939604 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02939604

- **Status:** In administration
- **Administration began:** 2024-12-30
- **Administrators:** Louise Williams, Ian Mcculloch
- **Administrators' firm:** Opus Restructuring
- **Incorporated:** 1994-06-16
- **Location:** Milton Keynes
- **Industry:** 10110 Processing and preserving of meat

## Why it went into administration

- COVID-19
- Energy costs
- Supply chain disruption
- Cash flow / liquidity pressure
- HMRC / tax arrears

## From the administrators' statement

The Company’s problems began during COVID. Its customer base had to temporarily cease trading when lockdowns were imposed. The Government asked the Company to remain open so it could provide a food delivery service to the vulnerable.

As the average value of each order was far lower than when products were delivered to restaurants this business was not profitable. The Company only provided this “social service” as it believed the Government would provide grants to compensate for the losses being incurred. The offer of these grants was later withdrawn. This left the business with considerable debts coming out of COVID. In the last year the following factors resulted in the company running out of cash and unable to pay its creditors:

1) Increase in electricity costs 2) A 10% fall in the value of the average delivery 3) The costs of an ageing vehicle fleet

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02939604/filing-history/MzQ1NDk0MDcwOGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02939604

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.