H & A PUT INTO ADMINISTRATION

Published: 23 July, 2008

H&A Wines and Spirits Group, the Lancashire-based specialist in quarter-sized bottles, spirits miniatures and contract packaging, has gone into administration. Andrew Stoneman and Jason Godefoy, partners at Menzies Corporate Restructuring (MCR), have been named joint administrators. Established in 1988, the firm bottles in the region of 60 million units a year and had a turnover last year of over 13 million. Stoneman said: The business expanded rapidly over recent years and its internal financial systems and working capital became overstretched. This has led to cash flow issues. I'm confident, however, that a satisfactory restructuring plan can be put into place to ensure the business' survival in the longer term. This will probably be arranged by a corporate voluntary arrangement, or by selling the business as a going concern.' H&A Wines and Spirits Group is comprised of H&A Bottlers, The Gifted Drinks Company, Thornton & France, H&A Wines 4 Travel and Universal Wines & Spirits.

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