Twenty-two jobs have been saved by the successful sale out of administration of a Cannock-based packager and supplier of fresh poultry.
The Birmingham office of business recovery specialists Begbies Traynor handled the sale of the business and assets of ANA Food Packaging Ltd, a business which had been trading since 2011.
The directors of the business – sold to ANA Poultry Services Ltd – will continue to play a role in running the business.
Nigel Price, partner at Begbies Traynor’s Birmingham office, managed the sale.
The sale out of administration has secured the jobs of the 22 staff based at the plant, whilst ensuring that existing customers continued to be served. The administrators were appointed on January 7.
Mr Price said: “The company had been facing tough trading conditions together with increased competition, and it was therefore apparent very quickly that administration and a subsequent sale was the best course of action. Doing this speedily and efficiently ensured that the business continued to trade, that existing customers continued to receive their service and that the jobs of the 22 staff were preserved. If we hadn’t acted quickly and secured the sale, it’s probable those jobs would have been lost.
“There were some obstacles to overcome but, working together with the directors, we were pleased to achieved a sale, saving the business and ensuring the staff retained their jobs, it has been satisfying to be able to achieve this.”
Martin Finn, director of ANA Poultry Services Ltd, said: “The company is now in the hands of a strong management team and has potential to supply a growing retail sector in halal meat and poultry. We are very pleased to have secured 22 jobs in the economic climate and feel confident that with the present workforce and good management team - and also the restructuring of the business - we will see strong growth in the future.”
John has specialised in Corporate Recovery, Restructuring and Insolvency since 1977 and has accumulated an extensive experience in a wide range of sectors mainly in the East and West Midlands. A former partner in Ernst & Young and Kroll, John joined Begbies Traynor in 2004. He has gained a reputation for dealing with the more challenging cases for lending institutions whether it is for a recovery or restructuring assignments.
John is a past president of Birmingham and West Midlands Society of Chartered Accountants.