Conjure Group Ltd (11126311): administration
- Status
- Administration ended
- Administration began
- 2023-11-28
- Administrators
- Asher Miller, Stephen Mark Katz
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2017-12-28
- Location
- London
- Industry
- 10519 Manufacture of other milk products
Why it went into administration
- COVID-19
- Weak consumer demand
- Supply chain disruption
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The SNOG Frozen Yogurt brand was originally founded in May 2008 by Tristan Pestana (“TP”) who invested in the business through the original trading company, Snog Pure Frozen Yogurt Limited (“SPFY”). The business retailed its frozen yogurt products from premises in Covent Garden and developed a comprehensive franchise system for the brand.
In 2016, SPFY and its subsidiaries were sold to Switch (UK) Limited (“Switch”) with the retail footprint of the business built out over the subsequent years. Switch became insolvent as a consequence of legacy debts associated with the acquisition and the Company acquired the SNOG Frozen Yogurt business and assets during the administration of Switch in 2019.
The Company’s general approach was focussed upon taking high quality, well-known restaurants and brands to new neighbourhoods. This strategy involved the opening of numerous micro-cloud kitchens, precisely located in the heart of dense/affiuent population centres serving urban professionals, which the Company had identified as the most valuable customers for its brands.
Administrators' statement of proposals (2024-01-25) · Companies House register