Foodservice industry meat supplier Nigel Fredericks fail to receive backing, again, and customers seek new suppliers.
H&C News received a call earlier today from a reliable source saying that the troubled meat supplier, Nigel Fredericks has lost the backing of its investors. As such customers, including the source, are moving other existing meat suppliers in to fill any gaps in the supply chain.
Last month administrators of north London-based meat supplier were in talks with directors to realise £4.1m from the directors’ loan account. Reports from the ongoing administrators rescue negotiations are mixed and show a catalogue of loan and other funding options being examined and exhausted.
Nigel Fredericks was sold in a pre-package agreement to Nigel Frederick Trading in September last year for a consideration of £23,033.29, with all employees moving to the new employer/owner.