Overview:
David Kemp and Richard Hunt at Exigen Group were appointed Joint Administrators of Coolfruit Limited, an Ashford-based company specialising in the freight transportation of fresh fruit across the UK. Established in 2000, the company traded successfully for many years but faced operational and financial difficulties more recently, including the suspension of its Operator Licence.
Operational Challenges:
In April 2023, professional guidance was sought. Exigen Group conducted a thorough review and explored options to salvage the business. When it became clear that continuing operations was not viable, the company entered an orderly Administration process, with assets now being sold on a piecemeal basis.
David Kemp of Exigen Group said:
“Coolfruit seems to have once been a robust and successful trading business, however, problems accumulated and Administration ultimately became the only realistic way forward for the company.
With more and more companies being confronted with financial difficulties in the current economic climate, we urge directors to make themselves aware of the options available to them. For companies at risk of insolvency, the most important step they can take is to seek professional guidance at the earliest opportunity to secure the best result for the company and its employees.”
Outcome:
Exigen Group’s management highlights the value of early professional advice and a structured approach to Administration, protecting assets, maximising recoveries, and supporting employees wherever possible.