Frank Rowe Ltd, the largest supplier of cut chrysanthemums in to supermarkets and other major retailers in the UK, has been forced into administration.
Increased competition from cheap imports in combination with higher petrol prices over the past five years forced the family firm to call for professional help. Sales to its main supermarket customer have been down 30% year on year.
Ian Walker of Begbies Traynor, the UK’s largest independent network of corporate recovery and insolvency specialists, said: “Administration gives the company a breathing space for us to consider all options, including whether to restructure the company or sell the business. At the moment we are still trading and will continue to do so whilst plans are formulated.”
Increased competition from cheap imports in combination with higher petrol prices over the past five years forced the family firm to call for professional help. Sales to its main supermarket customer have been down 30% year on year.
Ian Walker of Begbies Traynor, the UK’s largest independent network of corporate recovery and insolvency specialists, said: “Administration gives the company a breathing space for us to consider all options, including whether to restructure the company or sell the business. At the moment we are still trading and will continue to do so whilst plans are formulated.”
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