ReSolve is pleased to confirm the sale of the business and certain assets of Serious Food, an established supplier of high-quality, delicious ingredients to the hotel and restaurant industry.
Established ten years ago Serious Food is a well-renowned supplier of food stuffs to the hospitality and education sectors. Due to the Covid-19 pandemic having a particularly devastating effect on the sectors that were the company’s primary customers it experienced cash flow challenges leading initially to a CVA. When contributions could not be met, ReSolve was appointed Administrators.
The business and certain assets have just been sold to First Choice Produce, a purveyor of speciality fine foods to Michelin star and fine dining restaurants as well as casual dining and event catering establishments, securing the future of all employees.
Ben Woodthorpe, Partner at ReSolve, commented: “It is particularly pleasing to secure a sale of this business and secure the jobs of all employees at such a testing time for the hospitality sector given the impact of Covid-19. We wish the new owner every success for the future.”
Dan McCullough, CEO at First Choice Produce, said: “We are pleased to have acquired Serious Foods as it is complementary to our existing business and enables us to increase our warehousing and distribution capabilities to meet the increased demand we forecast once this lockdown period ends.”