With acceptable bids for Adelie Foods Ltd unlikely to gain approval from the CMA, Joint Administrators Deloitte instructed Wyles Hardy & Co to attend the four principal manufacturing sites in London and Milton Keynes, as well as the national distribution hubs. The Wyles Hardy team were to provide detailed electronic inventories with plant & machinery valuation advice to assist our clients’ in the piecemeal disposal of the company’s assets.
The team advised Deloitte on various exit strategies, with particular reference to the health and safety aspects of implementing these during the 2020 pandemic. Acting on the advice provided from Wyles Hardy, our clients achieved sales of the various brands and assets associated with Adelie Foods Ltd, namely:
£6.4 million for the Urban Eat branding and associated intellectual property as well as circa £520,000 for selected plant and machinery from Adelie’s Southall factory. £750,000 for all plant and machinery from the Redmoor factory, £77,500 for all plant & machinery at the Wembley factory and circa £42,500 for all plant and machinery from the Heathrow hub.
Chattels from the Tamworth, Haydock, Cardiff and Kilmarnock distribution sites have achieved sales totals of £24,000 so far.
Whilst the COVID-19 pandemic is ongoing Wyles Hardy & Co are still operating and able to provide advice under managed health and safety protocols and where government guidelines permit.