MOORFIELDS ADVISORY APPOINTED ADMINISTRATORS OF VEGAN READYMEAL COMPANY SOULFUL FOODS LIMITED
Restructuring and recovery specialists Mike Solomons and Andy Pear of Moorfields Advisory were appointed Joint Administrators of Soulful Foods Limited on 27 November 2023.
Soulful Foods Limited specialised in supplying vegan ready based meals offering nourishing ready made meals made in minutes, available either directly to your door or from some of the major supermarket chains. Founded in 2011, the Company quickly grew a big audience with large retailers stocking their products such as Tesco and Wholefoods. Unfortunately, the Company fell into difficulty earlier this year, as competition grew throughout COVID and operating costs were rising.
Mike Solomons, Partner at Moorfields, said: “Unfortunately the pandemic gave rise to a huge amount of competition in the ready meal market as consumers who were previously time poor had more time due to COVID. We saw a rise in meal kit providers trying to provide restaurant quality food in our own homes. Soulful food, like many similar businesses, has struggled to compete since then.
Moorfields are now marketing the Company’s fully fitted chilled storage warehouse and office space in South East London, for sale . Interested parties should contact jake.nixon@moorfieldscr.com or call 0207 186 1144.
ENDS
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Katie Smith
Tel: +44 (0)20 7186 1144
Email: ksmith@moorfieldscr.com
About Moorfields
Moorfields Advisory Ltd is one of the UK's leading boutique firms of restructuring and insolvency specialists. The highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high-quality advice to companies and their stakeholders in financially distressed situations.
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