Fine foods specialist John Lusty has asked bankers to appoint an administrative receiver after US firm Crossmark abandoned buyout talks this week. Lusty had been negotiating with Crossmark after a rapid downturn in sales and a continuing squeeze on margins had "seriously affected" its financial position. Just seven weeks ago, it said trading remained "solid" despite difficult market conditions, with potential for growth in foodservice and forecourts, and local authority contracts for Home Farm Foods. However, margins at Trustin Unimerchants ­ by far the biggest part of the business ­ remained under pressure. John Lusty imports and distributes speciality food through Trustin Unimerchants to the multiples, Foodfinders to independents, Ryne Quality Confectionery through several channels, and Home Farm Foods direct to customers' homes. {{NEWS }}