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FRP has announced it has secured a pre-pack sale of Krush Global ltd, which trades under the brand name Crussh.
More than 160 jobs have been saved following its sale out of administration, by FRP restructuring advisory partners, Ian Corfield and Philip Reynolds, who were appointed as Joint Administrators for Krush Global Limited on Monday 9 January.
Crussh operates from 11 sites as well as providing products to major retailers across the UK. The business was first established in 1998 and had been significantly impacted by the pandemic. The sale of the business will allow the brand to continue with the vast majority of employees transferring to the new owners.
Under the terms of the sale, eight sites will transfer over to the new owners. The sites at Canary Wharf and Westway as well as the concession within the Everyone’s Active gym at Winchester will be closed.
Ian Corfield said: “We are pleased to have secured a positive outcome for a long-established business that has sought to navigate through the range of challenges facing the hospitality and catering sector because of the pandemic.
“Crussh is a well-known and strong brand, and the deal ensures that trading will be unaffected with the continuation of supply to customers and the vast majority of sites and employees transferring across to the new owners. We wish the new management team every success as they take the business forward.”
