SFP Completes Administration of Ashford-based Freight Transport Firm

David Kemp and Richard Hunt of nationwide insolvency practitioner, SFP, have been appointed Joint Administrators of Coolfruit Limited, an Ashford-based company that provided freight transportation of fresh fruit across the UK.

Formed in 2000, the company successfully traded for many years before encountering numerous difficulties over recent times.  These challenges included rising overheads and operational difficulties, including the suspension of the firm’s Operator Licence.

Professional guidance was sought in April 2023 and SFP conducted a review of the circumstances. The strategy included marketing the opportunity to try and salvage the business. Once it became clear, however, that saving the business was not viable, SFP commenced an orderly winding down of the company’s affairs and is now in the process of selling the company’s assets on a piecemeal basis.

David Kemp says that “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.”