Administrators appointed to Key Food Ingredients and Simplea Food Products

Key Food Ingredients and Simplea Food Products

Paul Dumbell, Paul Flint and David Costley-Wood from KPMG’s Restructuring practice in Manchester have been appointed as Joint Administrators to Key Food Ingredients Limited and Simplea Food Products Limited, the Widnes-based manufacturer and distributer of food products and ingredients.

Also on KPMG.com

Key Food Ingredients imports bulk cream and butter to manufacture butter oil and butter ghee in a modern butter oil plant, catering to the needs of the foodservice, manufacturing and cocoa industries. 

Simplea Foods imports raw ingredients to produce pureed formats of ready-to-use ingredients such as garlic, ginger and chilli, together with an artisanal range of bespoke sauces and condiments suitable for the foodservice and retail markets. More recently, this has been expanded to include a Mediterranean range of marinated olives, antipasti and pestos. 

The administration also affects Key Distribution, the firms’ warehousing and distribution division, which was expanded in February 2016. Commenting on the appointment, Paul Dumbell, director and joint administrator, said: 

“Whilst historically a successful business, more recently the financial performance of Key Foods has been impacted by the volatile commodity prices of bulk cream and butter. In particular, the company was hit by a sharp increase in the market price of cream between April and July 2016, ultimately resulting in this administration appointment. 

“In addition to securing the assets of the business and streamlining operations in an attempt to continue to trade, the Joint Administrators are now exploring a sale of this unique local business and its assets. Any interested parties are encouraged to contact Luke Almond on 0151 473 5217 to discuss further.”

In total, the firm employed 44 members of staff, of which 39 have been retained by the administrators while they review operations. 

-ENDS-

 

For media enquiries only, please contact:

Alison Anderson, PR Manager

T: +44 (0)113 254 2980 

M: +44 (0)7733 453 065

Email: alison.anderson@kpmg.co.uk

 

Katy Broomhead, Senior PR Manager

T: +44 (0)161 246 4623

M: +44 (0) 7824 537963

Email: katy.broomhead@kpmg.co.uk

Follow us on twitter: @kpmguk

KPMG Press Office:

Tel: +44 (0)207 694 8773

 

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

Connect with us

 

Request for proposal

 

Submit

KPMG’s new-look website

KPMG’s new-look website