Winfresh, the UK-based banana supplier, has gone into administration.
Established in 1994, Winfresh, based in Essex, north of London, supplied bananas including Fairtrade produce from smallholders in the Caribbean. It distributed bananas to UK retailers and foodservice providers from its facility in Dunmow.
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Michael Lennon, Sarah Bell and Philip Dakin of advisory firm Duff & Phelps were appointed joint administrators to Winfresh yesterday (23 July).
Lennon said: “In recent years the UK banana market has become highly competitive and that has impacted the company in terms of volume and pricing. As a result, the financial position of the company has become untenable and mounting cash flow pressures has resulted in the appointment of the joint administrators.”
Duff & Phelps said it is working closely with the company’s customers and suppliers to “understand the short-term future of the business”.
Lennon added: “It is too early to define what the long-term prospects are for the company, but we will explore all the options available.”
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