Restaurant wholesaler Penta Foodservice has fallen into administration for the second time in six months and ceased trading.
The Farnborough-based business, which supplied a string of high-profile restaurant chains including Wagamama, The Ivy Collection and D&D London, appointed Duff & Phelps as administrator this month after a “significant loss of customers”.
The company, which previously traded as Penta Foods Ltd, was rescued from administration in November 2018 in a pre-pack management buyout.
Duff & Phelps said a recovery for the business since that rescue had “proved challenging” with customer retention levels below those forecast.
The administrator said: “The company suffered from supply issues and stocking difficulties following the previous insolvency, at a time when quality service is crucial in the foodservice industry in the lead up to Christmas 2018.
“This ultimately led to a significant loss of customers in the first quarter of 2019.”
An alternative investor or a new buyer was sought for the business, but this was unseccesful and the company ceased trading on the appointment of administrators.
Accounts for its 2018 financial year have yet to be published, but the former Penta Foods Ltd had sales of £41 in 2017 with profits falling from £648k to £220k.