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July 24, 2020

Administrators appointed at UK banana business Winfresh

Winfresh, the UK-based banana supplier which counts many retailers amongst its customers, is facing an uncertain future.

By Leonie Barrie

Winfresh, the UK-based banana supplier, has gone into administration.

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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.

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.”

Related Companies

Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

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