Own-label dessert manufacturer Indulgence Patisserie is holding discussions with a potential buyer after collapsing into administration last month.
The Essex-based company hired advisors from RSM Restructuring Advisory LLP on 20 January to handle its administration process, after it collapsed amid falling sales and legal troubles following a breach of health and safety regulations.
RSM told The Grocer discussions were ongoing “with a view of concluding a sale of the business”.
Indulgence Patisserie’s latest accounts, for the year to May 2018, showed a 16% drop in sales to £6.1m, with the company slumping to a £625k loss from a £284k profit the previous year.
In September 2018, the dessert maker was also fined £50k after Anne Allan, mother of MD Angus Allan and employee of the company, fell through fragile ceiling tiles and injured her pelvis.
The business pleaded guilty to breaching regulation 9(1) of the Work at Height Regulations 2005 and, in addition to the fine, was ordered to pay over £5k in legal costs.
Funded in 1988, Indulgence Patisserie specialises in manufacturing and developing own-label and branded desserts. It supplied retailers and foodservice outlets across the country and abroad.