Administrators appointed to food and beverage operators | KPMG | UK

Administrators appointed to food and beverage vending machine operators

Administrators appointed to food and beverage operators

Howard Smith and David Costley-Wood from KPMG’s Restructuring practice were appointed joint administrators to Uvenco Limited, Snack in the Box Limited and Drinkmaster Limited on 30 May 2018.

1000

Also on KPMG.com

The companies operate in the food and beverage vending machine space, offering service, maintenance and rental of vending machines to public and private sector clients, both directly and via a franchise network across the UK and Northern Ireland.  Headquartered in Blackburn, the company also has sites in Coventry, London, Newport and Liskeard in Cornwall.

 

Immediately upon appointment of the joint administrators, the trading business and its assets were sold to subsidiaries of Montagu Group Limited, a vending solutions provider. All 169 employees transferred across to the new owner upon completion of the sale.

 

Howard Smith, associate partner at KPMG and joint administrator, commented: “The companies had experienced declining revenues over a prolonged period, significantly impacting cash flows. Following an accelerated sales process, we are delighted to have been able to safeguard all 169 jobs with this sale of the business and assets. We wish the new owners well in the future.”

 

All three companies are subsidiaries of Uvenco UK PLC which, for the avoidance of doubt, has not entered administration.

-ends-

For media enquiries only, please contact:


Katy Broomhead, KPMG Corporate Communications
T: +44 (0)161 246 4623
M: +44 (0)7824 537963
E: katy.broomhead@kpmg.co.uk

Follow us on twitter: @kpmguk

KPMG Press Office: +44 (0)207 694 8773

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff.  The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and territories and has 200,000 people 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