Quantuma appointed for Beales Gourmet administration
Professionals from business advisory firm Quantuma have been appointed as joint administrators of events company Beales Gourmet. The firm stated that it collapsed due to the onset of Covid-19, despite the furloughing of all 14 of its permanent staff.
Recent years have been increasingly difficult for the food and drink sector, with the number of licensed premises in Britain continued its steady year-on-year decline in 2019. Restaurant numbers in particular took a knock – despite small flourishes in the group restaurant scene. The casual dining sector was been particularly hard hit, as it traditionally depends on middle-income customers, who have seen their spending power greatly diminish in recent years. With the onset of the Covid-19 pandemic in 2020 causing a lock-down across the UK, the situation has significantly worsened this year.
Beales Gourmet hosts wedding and corporate events at the Italian Villa at Compton Acres in Poole, as well as providing outside catering for weddings, corporate and private functions in other locations around the UK. These include Lulworth Castle, Highcliffe Castle, Sopley Mill and Sunninghill House. However, according to a release issued to the press, the firm has entered administration “as a direct result of Covid-19 and the closure of non-essential business and social distancing guidelines” – having just furloughed all 14 of its permanent staff.
David Meany and Andrew Watling of Quantuma have subsequently been appointed as joint administrators. With the company having to cease trading during what would have been the start of the busiest period of the year – and some 250 events already booked – the professionals are understood to be actively seeking buyers for the business and welcomes any interested parties. Along with the two directors and owners, Molly and Tony Beales, and the firm’s 14 permanent staff, it employs six regular casual staff.
Quantuma Partner David Meany said, “Beales Gourmet is a well-respected company throughout the UK wedding and events community... It is unfortunate that, the current unprecedented crisis and restrictions around social gathering, have had an impact on what was otherwise a highly successful and reputable business. We are exploring the possibility of securing buyers for the internal and external event sections of the business in an effort to maximise the return for clients and creditors, secure employment and potentially provide continuity for some of the clients who have weddings and other events booked.”
Earlier in the year, street food specialist MPM Catering similarly collapsed into administration, just weeks after celebrating its Cook Street brand’s fifth year in business. Professionals from Mazars were appointed to oversee the sale of the business’ assets.
