Duff & Phelps appointed Joint Administrators of Winfresh UK Limited (the ‘Company’)

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Michael Lennon, Sarah Bell and Philip Dakin of Duff & Phelps Ltd, were appointed Joint Administrators to Winfresh UK Limited, on 23 July 2020.

Established in 1994, Winfresh is one the UK’s leading suppliers of bananas including Fairtrade bananas from smallholders in the Caribbean. The Company distributes bananas to UK retailers and foodservice providers from its state-of-the-art ripening facility in Dunmow, Essex.

Michael Lennon, Joint Administrator, stated: “In recent years the UK banana market has become highly competitive and that has impacted the company in terms of volume and pricing. As a result, the financial position of the Company has become untenable and mounting cash flow pressures has resulted in the appointment of the Joint Administrators.”

On appointment the Joint Administrators are working closely with the Company’s customers and suppliers to understand the short-term future of the business.

“It is too early to define what the long-term prospects are for the Company, but we will explore all the options available to the Company,” continued Mr Lennon.

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