Corporate Finance

Quantuma appointed as administrators to Beales Gourmet

David Meany and Andrew Watling of business advisory firm Quantuma have been appointed as joint administrators of events company Beales Gourmet Ltd (“Beales Gourmet”).

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.

Quantuma said Beales Gourmet entered administration as a direct result of Covid-19 and the closure of non-essential business and social distancing guidelines. It added this resulted in the company having to cease trading during what would have been the start of the busiest period of the year, with some 250 events already booked.

Along with the two directors and owners, Molly and Tony Beales, the firm employs 14 permanent staff, along with six regular casual staff. All permanent staff have been furloughed.

Quantuma added it is now ‘actively seeking” buyers for the business and welcomes any interested parties. In the event that the administrators are unable to secure a sale of the business, there is still the prospect that the clients who have weddings and other events booked and have paid deposits will secure at least a partial return.

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David Meany, partner at Quantuma, said: “Beales Gourmet is a well-respected company throughout the UK wedding and events community, and had a busy pipeline of events for the summer months. 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.”

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