The joint administrators of B Riley & Sons, Paul Flint and David Standish of KPMG, have announced that they completed a sale of the business and key assets to Dale Valley Rossendale Limited on 29 June 2016.
The agreement sees Dale Valley Rossendale Limited acquire seven properties, including an abattoir in Dunnockshaw near Burnley, and other assets including plant and machinery.
Paul Flint, associate partner at KPMG and joint administrator, said: “B Riley & Sons was one of the largest independent abattoir and meat processing businesses in the North of England, and a major supplier of lamb to the European market. We are therefore delighted to have been able to conclude this complex sale following a six month marketing and negotiation period, and particularly in light of the events of the last seven days."
Paul Flint and David Standish were appointed joint administrators of B Riley & Sons on 16 December 2015, after the company experienced significant cashflow difficulties.
The Company and its Joint Administrators were assisted by Sanderson Weatherall and Eversheds on the transaction.
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