Aquila Processing Limited (06439042): administration
- Status
- Administration ended
- Administration began
- 2017-04-04
- Administrators
- James Ronald Lumb, Howard Smith
- Administrators' firm
- KPMG
- Incorporated
- 2007-11-28
- Location
- Leeds
- Industry
- 10200 Processing and preserving of fish, crustaceans and molluscs
Why it went into administration
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
Aquila was incorporated on 28 November 2007 as an importer and processor for the fish and chip shop industry. The business processes and packs frozen fish which is imported from China, as well as vegetarian products, from its premises in Grimsby, Lincolnshire. The Company made imports in US dollars with no exchange rate hedging in place and as a consequence of the EU referendum, its margins were eroded by the weakening of sterling.
The Company has also been affected by the withdrawal of duty relief on its imports of cod.
The Company employed 37 full time employees on appointment at its Grimsby site, the majority of which were involved in processing. The Company also employed a similar number of agency staff to fulfil contracts. At present, the Administrators are continuing to trade and no employees have been made redundant.
Administrators' statement of proposals (2017-06-12) · Companies House register