Nick Holloway and Will Wright from Interpath Advisory were appointed joint administrators to Krograb UK Limited on 27 March 2024.
Krograb is a supplier of coffee and juice machines, as well as waffle machines, to companies across the hotel, leisure and higher education sectors.
Due to the nature of its client base, the Company’s trading performance was significantly impacted by the pandemic, and these issues were further exacerbated by inflationary pressures and the ongoing global orange juice shortage. In response, the directors of the business sought to explore their options, including a potential sale of the business, but when it became clear a solvent solution could not be found, they took steps to seek the appointment of administrators.
Immediately following their appointment, the joint administrators sold the Company’s business and assets to Water Concepts Limited. All 20 of the Company’s employees have transferred to the purchaser as part of the transaction.
Nick Holloway, managing director at Interpath Advisory and joint administrator, said: “We are pleased to have concluded this transaction which will enable the Krograb business to continue to trade, and wish the purchaser all the very best for the future.”
