UK party food manufacturer Frank Dale Foods has been bought out of liquidation by newly-formed Finedale Foods, which the new owners said secures employment "for most of Frank Dale's 57 staff".
Norwich-based Frank Dale recorded a GBP500,000 (US$608,000) loss last year after "increasing pressure on production facilities led to difficulties fulfilling orders", insolvency firm McTear Williams & Wood said in a statement. However, Finedale, led by the former MD of local haulage firm Freightforce, Edward Miles, acquired Frank Dale's business and assets on 1 March. Miles said "new accounts are being opened with customers and suppliers" and added: "The team on site are working extremely hard to satisfy a backlog of customer orders and we will continue to build the Frank Dale brand."
"I looked to invest and manage the company prior to the liquidation but the depth of the company's financial crisis made that impossible. Buying the business and assets out of liquidation made sense and I am delighted to be the successful bidder with support from angel investors, New Anglia Capital and the local council who all worked quickly to support the bid."
Frank Dale's foodservice range includes hand-finished savoury and sweet canapes, mini cakes and quiches.
11 March 2017