‘Business as usual’ as SumoSalad keeps on serving
85 SumoSalad stores have been placed into administration, but administrators say “it’s business as usual” for the healthy eating food chain.
Last week the stores were placed into administration, with the group appointing Peter Gothard and Morgan Kelly from financial advisory and restructuring firm Ferrier Hodgson as administrators.
Last year, Founder Luke Baylis placed some stores into administration last year due to landlord disputes.
But Ferrier Hodgson Partner Morgan Kelly tells Ross Greenwood those issues have been dealt with.
“What’s now occurred is that the group has been attempting to deal with its legacy issues and balance sheet problems.
“They need to use the voluntary administration process again to deal with those legacy debt issues.”
He says he doesn’t “anticipate having negotiations with landlords about leases”.
“It’s literally going to be business as usual.”
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