Penta Foodservice Limited (11682680): administration
- Status
- Administration ended
- Administration began
- 2019-05-10
- Administrators
- Benjamin John Wiles, Geoffrey Wayne Bouchier
- Administrators' firm
- Kroll
- Incorporated
- 2018-11-16
- Location
- London
- Industry
- 46390 Non-specialised wholesale of food, beverages and tobacco
Why it went into administration
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Creditor pressure / legal action
- Property / lease costs
- Cyber attack / IT failure
- Competition / price pressure
From the administrators' statement
Penta Foods was a family-run business established in July 1991 and was a specialist food wholesaler that supplied restaurant chains across the UK, operating from sites in Farnborough and Manchester.
Penta Foods had historically operated profitably. However, the devaluation of Sterling following the 2016 referendum negatively impacted upon margins. The business was then further affected by pressure on the restaurant sector in 2017 and 2018, which adversely impacted on sales performance and profitability. Trading was then further affected, when the Company became victim of a ransomware attack, limiting the Company’s access to its systems.
Penta Foods was unable to fulfil orders and meet payment obligations with its suppliers and eventually entered Administration on 23 November 2018.
Administrators' statement of proposals (2019-08-15) · Companies House register