The Protein Ice Cream Company Limited (08305360): administration
- Status
- Administration ended
- Administration began
- 2022-09-08
- Administrators
- Hugh Francis Jesseman, William Antony Batty
- Administrators' firm
- Antony Batty
- Incorporated
- 2012-11-23
- Location
- London
- Industry
- 10520 Manufacture of ice cream
Why it went into administration
- COVID-19
- Supply chain disruption
- Regulatory change or action
- Brexit
From the administrators' statement
The Protein Ice Cream Company Limited (PICC) was set up by Eric McClean and David Ovenden in December 2012. In early 2013 PICC acquired the IP in the ‘wheyhey’ brand from Wheyhey Ltd (in administration) with the focus on developing healthy ice cream products for the UK retail market. Eric’s background was in professional services and marketing, while David spent 20+ years in Finance.
Damien Kennedy and Greg Duggan joined the company as co-founders in January 2013 — Damien and Greg had developed the original recipe for the healthy ice cream range and both had a background in nutrition.
All four were Directors of the business from January 2013, with an office in Richmond, London. The company was initially funded by Eric and David, alongside a long-term loan from HSBC. The company gained traction in the early years selling ice cream to major gym chains and health stores in the UK, reaching revenues of over £700K in the first year of trading and with long term supply secured from a gold standard manufacturer in Ireland.
Administrators' statement of proposals (2022-10-27) · Companies House register