The Food Retailer Operations Limited (10072926): administration
- Status
- Administration ended
- Administration began
- 2017-02-10
- Administrators' firm
- PwC
- Formerly
- S206374 Properties Limited
- Incorporated
- 2016-03-18
- Location
- Liverpool
Why it went into administration
- Sustained trading losses
- Creditor pressure / legal action
- Property / lease costs
- Weak consumer demand
- Supply chain disruption
- Parent or group failure
From the administrators' statement
The Company is headquartered in Northampton and operated 34 convenience stores across the UK, which traded under the Budgens brand. It employed 815 people at the date of appointment and it also holds the leasehold interests in a further 36 non-trading stores, two non-trading properties and the former head office of the Somerfield business.
The Company’s immediate shareholder is The Food Retailer Group Limited, which also owns The Food Retailer Services Limited. Services is also the Company’s only secured creditor. As yet, neither of the other Group companies have been placed into administration.
The Company was acquired by the Group under the control of the ultimate shareholder, Hilco, from The Cooperative Group Limited in July 2016.
Administrators' statement of proposals (2017-04-07) · Companies House register