Europe Edition
Burtons Go Bananas Ltd, who supply over 400 customers including local restaurants and hotels, has been successfully sold to Bristol Fruit Sales (Market) Ltd, now trading as Total Produce Bristol, part of the Ireland based Total Produce. The sale was managed by corporate recovery specialists Begbies Traynor.
The sale of the £4m turnover business, which was secured through a sale out of administration, has protected the jobs of all staff for the foreseeable future while also securing the best possible outcome for creditors.
Neil Vinnicombe said: “The business was suffering from cash flow difficulties and following the threat of withdrawal of support from major suppliers it became clear that administration and subsequent sale was the only realistic option for ensuring the continuity of business, preserving jobs and securing as much as we could for creditors. Had the sale not been achieved the company would have to be placed into liquidation and all jobs lost.”
Bristol Fruit Sales (Market) Ltd has taken a three month licence to occupy the freehold premises in Avonmouth owned by Burtons go Bananas Ltd, whilst a buyer is sought for the building.
Jason Burton, who following his father’s recent illness has been running the business will continue to play a role in running the business.
Burtons Go Bananas Limited had been trading for 16 years, having traded as a partnership prior to incorporating in 2005. The sale was completed on 13 November 2012.
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