The Serious Fraud Office is expected to examine the shock collapse last month of British Seafood.
The SFO an arm of the government that investigates suspected cases of serious or complex fraud is set to examine the circumstances behind the demise of the £300m-a-year conglomerate. It is understood it will be seeking a meeting with the administrators soon.
However, a spokesman for British Seafood founder Mark Holyoake said "there has been no mention or discussion of the need to involve the SFO".
Meanwhile, it has emerged that MCR, which is handling the sale of some of the group's individual companies, rejected a management buyout bid for British Seafood company Seatek UK.
Seatek managing director Brian Pound and the company's financial and purchasing directors were let go last week after MCR rejected a management buyout, sources told The Grocer. MCR said it was still trying to find a buyer for fresh, frozen and ambient seafood distributor Seatek, the biggest company based in London's Billingsgate Market.
"Seatek is still trading while a buyer is being sought," said the administrator. However, industry sources are sceptical a buyer will be found. It is likely MCR will trade out the company, particularly after the senior management team have all been let go.
"The administrator said he would prefer to sell off the stock and collect the debt book rather than accept the offer. He said he would get more for it by trading it out," said a source formerly employed by British Seafood. "It's sad, as the Seatek business was profitable."
Seatek's last audited account statement for the year ending 31 December 2008 shows a turnover of £38m and profit of £298,000. However, the amount of capital required to get the business going again is considerable, according to an industry insider. "You would need £4m working capital to take the business forward as a going concern," he said.
The SFO an arm of the government that investigates suspected cases of serious or complex fraud is set to examine the circumstances behind the demise of the £300m-a-year conglomerate. It is understood it will be seeking a meeting with the administrators soon.
However, a spokesman for British Seafood founder Mark Holyoake said "there has been no mention or discussion of the need to involve the SFO".
Meanwhile, it has emerged that MCR, which is handling the sale of some of the group's individual companies, rejected a management buyout bid for British Seafood company Seatek UK.
Seatek managing director Brian Pound and the company's financial and purchasing directors were let go last week after MCR rejected a management buyout, sources told The Grocer. MCR said it was still trying to find a buyer for fresh, frozen and ambient seafood distributor Seatek, the biggest company based in London's Billingsgate Market.
"Seatek is still trading while a buyer is being sought," said the administrator. However, industry sources are sceptical a buyer will be found. It is likely MCR will trade out the company, particularly after the senior management team have all been let go.
"The administrator said he would prefer to sell off the stock and collect the debt book rather than accept the offer. He said he would get more for it by trading it out," said a source formerly employed by British Seafood. "It's sad, as the Seatek business was profitable."
Seatek's last audited account statement for the year ending 31 December 2008 shows a turnover of £38m and profit of £298,000. However, the amount of capital required to get the business going again is considerable, according to an industry insider. "You would need £4m working capital to take the business forward as a going concern," he said.
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