Home Business News Spudulike enters administration

Spudulike enters administration

by LLB Reporter
5th Aug 19 4:44 pm

The baked potato chain Spudulike has entered into administration on Monday with 298 staff being made redundant.

Administrators said on Monday that all 37 Spudulike outlets were closed on Friday as a last ditch attempt sale collapsed.

Joint administrator Neil Bennett, from the business services firm Leonard Curtis said, “We are very disappointed with the outcome after working for several weeks firstly preparing a CVA proposal, which was rejected by the group’s creditors, and subsequently pursuing the sale of all or part of the group’s business and assets with a number of prospective purchasers.

“Sadly, a sale of the business and assets of the group on a going concern basis did not prove possible, following the last minute withdrawal of an offer that was close to completion.

“We are now focusing on seeking any interest in the group’s remaining assets whilst managing the impact of the closures on former employees.”

Bennett added, “All employees will be able to make claims for their wage arrears, together with accrued holiday pay, statutory notice pay, and redundancy pay, from the government’s Redundancy Payment Service.

“We are currently working towards finalising the employee arrears information so that our instructed agents, Evolve IS, can prepare the employee claim calculations and circulate them to employees and the Redundancy Payment Service, helping them prepare and submit claims for any arrears of wages, statutory notice entitlement and redundancy pay.”

 

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