Tim Bateson and Howard Smith from Interpath Advisory have been appointed as joint administrators to Simtom Food Products Limited.
Founded in 1977 and based near Desford in Leicestershire, Simtom Food Products manufactures a range of traditional Indian sauces, marinades, pickles and chutneys which it supplies to supermarkets and catering businesses.
The family-owned business has in the last few years invested heavily in growing its operations, but plans for implementation were hampered by the onset of COVID-19 lockdowns. This, coupled with more recent labour shortages, placed significant pressure on the business, resulting in the appointment of the joint administrators.
The company directly employed approximately 60 people, alongside an additional 40 agency workers. The majority of these staff were made redundant before the appointment of the joint administrators.
Tim Bateson, director at Interpath Advisory and joint administrator, said: “The COVID-19 pandemic has significantly impacted the implementation of Simtom’s strategic plans which when coupled with the recent labour shortages has had a significant impact on this award-winning food manufacturer.“
“Our immediate priority is to support those employees who have been made redundant, providing them with the information and support they need to make claims via the Redundancy Payments Office.
“We will be seeking offers for the business and its assets, and would encourage any interested parties to make their interest known at the earliest opportunity.”
Interested parties should contact Tom Burton at Interpath Advisory on tom.burton@interpathadvisory.com
