Leonard Curtis cooks up new owner for collapsed cake company

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Andrew Duncan and Alex Cadwallader, directors at Leonard Curtis Business Solutions Group, have been appointed joint administrators to cake makers More Food Ltd, and have sold the company via a pre-pack deal, saving some 150 jobs

Chichester-based More Food specialised in the creation and supply of handmade cakes and tray bakes to a wide range of customers, including local bakeries, major retailers, such as Budgens and Waitrose as well as international sandwich shop chains.

The business had been trading for over 25 years and began when the founding director, Caron Howe, and a close friend started their own coffee shop serving homemade cakes, scones and sandwiches. Howe went on to concentrate on the wholesale supply of cakes and other confectionery products, incorporating More Food and taking on a leasehold factory premises in Chichester in 2003.

The business traded successfully for a number of years and was achieving turnover in excess of £8m per annum.  To support the growing business, the directors decided to move to a new, purpose-built, 8,000 square feet factory premises in Chichester.

The costs of the move and the fit out of the new premises were substantial and, combined with recent increases in the price of raw materials following the UK’s decision to leave the EU, placed substantial strain on the business. Despite seeking additional investment, the directors were ultimately unable to save the business, which entered into administration on 1 September 2017.

Immediately following the administration, the business and assets of the company were sold as part of a going concern sale to a third party, Sussex Bakes. 

Andrew Duncan, director at Leonard Curtis Business Solutions Group and joint administrator, said: ‘The sale of the business via a pre-pack ensures the continued employment of all 150 members of staff and means that work at the bakery can continue as it did before under the new ownership of Sussex Bakes.’

Pat Sweet

Pat Sweet | Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

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