News

Bar and charcuterie saved from administration

Posted: 15/08/2018

Popular bar and charcuterie, Friends of Ham, has been saved from administration by an independent buyer.

Ham and Friends went into administration on the 7 August with Charles Brook and Michelle Chatterton of  Poppleton and Appleby appointed joint administrators by the company’s directors. Daniel Hey, Director in the Machinery & Business Assets department of Walker Singleton, was appointed by the joint Administrators to market and negotiate a sale of the business.

Trading in New Station Street, Leeds, since 2012, the business introduced a novel and popular experience for its clientele, specialising in charcuterie, cheese and craft wines and beers.

After a focussed marketing campaign that generated strong, competing interest, independent buyers Glentrool have now purchased the two sites – saving 34 jobs. Glentrool has 25 years’ experience within the corporate sector and drinks industry.

Daniel Hey commented that “the Friends of Ham concept had been developed over the past 5 years as a craft beer and food lover’s destination. It drew a loyal following, testament to the director’s concept. Our marketing drew out strong, competing interest, and I am pleased we were able to achieve a sale that not only secured the employment of the staff but also reflected the investment made by the company in creating the locations”

Katie Pannu, of Glentrool, said: “We are delighted to be investing in such a unique and vibrant business and want to confirm that all of the remaining employees from each of the locations have been retained.”

Charles Brook, Partner of Poppleton & Appleby. said: “In a highly competitive market the cost of managing the development of the Ilkley and Merrion Street businesses placed significant strain on the combined financial resources of the two companies.  Although the original business was resilient, cash flow suffered and the companies came under increasing pressure to maintain payments to their creditors.”

The Joint Administrators were represented by Peter Harling a Partner at Chadwick Lawrence LLP Solicitors in Leeds. Glentrool were represented by Matthew Thompson and Dahren Naidoo of Freeths Legal Services.