Northumberland based business, Cheviot Foods Limited, has entered into administration, with the appointment of Geoff Rowley and Nick O'Reilly, of Vantis Business Recovery Services (BRS), a division of Vantis, the UK accounting, tax and business advisory group.
Cheviot Foods Ltd is an independent business, though there are common shareholders with Prize Food Group. However, it is a legally separate entity and there is no trading relationship between it and Prize Food Group.
The board of directors at Cheviot Foods resolved to place the company into administration due to cash flow pressures, resulting from unprecedented inflation of raw materials and energy prices.
Nick O’Reilly, President of the Association of Business Recovery Professionals, R3 and Vantis BRS Client Partner, comments:
“On an urgent basis Vantis is working with the management team to continue to trade. We hope customers, employees and suppliers will be supportive of our aims to meet customer requirements and to enter into discussions with interested parties.”