The Health Store calls in Interpath for administration

31 August 2022 1 min. read
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140 jobs have been lost as a 90-year-old business in Nottingham business called in administrators from Interpath Advisory. The Health Store is a health food wholesaler, supplied customers through the UK, Europe and Asia.

Prior to its collapse, The Health Store supplied items including gluten-free, organic, superfoods, vegan, vitamins and supplements, alongside household and natural beauty and baby products. Many of its products were stocked by local shops and are not found in supermarkets.

According to a statement from the firm, over recent months, it faced a number of challenges including an unexpected sales decline, and the loss of a large customer. Unprecedented market conditions which have dented consumer spending power were also blamed for its financial performance. As such, the directors reached the conclusion that it was in the best interest of creditors for the company to be placed into administration.

The Health Store calls in Interpath for administration

Around 206 employees were located across the two company sites in Newcastle-under-Lyme and Nottingham. Of these, 63 were retained to assist the administrators in the realisation of assets and the performance of their statutory duties; while 143 were made redundant.

Chris Pole and Ryan Grant of Interpath Advisory will now oversee the administration of both Health Stores (Wholesale) in Nottingham and Tree of Life UK in Newcastle-under-Lyme. The joint administrators are exploring a number of options including seeking a buyer for the businesses, their assets and intellectual property.

Pole commented, “Regrettably, the loss of business from a key customer, together with the effects of the well documented economic headwinds, including inflationary pressures, have been incredibly challenging for the firm. Our immediate priority is to assist those members of staff who have been made redundant, and provide them with the information they require to make appropriate claims.”