Myfresh Prepared Produce Limited (10696607): administration
- Status
- Administration ended
- Administration began
- 2023-04-20
- Administrators
- Conrad Alan Beighton, Dane O'Hara
- Administrators' firm
- Leonard Curtis
- Formerly
- Aghoco 1521 Limited
- Incorporated
- 2017-03-29
- Location
- London
- Industry
- 10390 Other processing and preserving of fruit and vegetables
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
The Company is a business to business supplier of prepared vegetable products. Whilst the Company was incorporated on 29 March 2017, its core business had been trading under previous structures and owners since
The Company traded from freehold premises located at Sandy Lane, Chicksands, Shefford SG17 5QB. The Company was acquired by the current owners, Tuber, in June 2022. The business had been historically loss making and had been supported by funding introduced by the Company’s previous owners prior to the acquisition by Tuber in June 2022.
Since the acquisition in June 2022, steps were taken by the Company’s new owners to address the profitability of the business. Initially, this involved the introduction of funds to the Company to assist with working capital and to fund asset purchases, with various debt funding facilities being obtained with Ultimate Finance Limited (“Ultimate”), Ultimate Asset Finance Limited (“UAF”) and Reward Capital Limited (“Reward”).
Administrators' statement of proposals (2023-06-05) · Companies House register