Flowers bloom in buyout relaunch
24th October 1991, Page 14
24th October 1991
Page 14
Page 14, 24th October 1991
— Flowers bloom in buyout relaunch
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Keywords :
Bankruptcy, Finance, Insolvency Law, Law In The United Kingdom, Receivership, United States Bankruptcy Law, Derek, Turnover, Business / Finance
• As predicted in last week's CM, Flowers of York has been bought from the receiver by three managers and an unidentified equity partner.
General manager Ian Craig is now operations director; company accountant Derek Walker becomes company secretary; and commercial manager Mike Kaye is now commercial director. The three have a majority share in the £1.5m turnover company which they have named Flowers Warehousing and Distribution.
The company currently has 35 staff; 35 trucks and 23 trailers; it had 52 staff before it went into receivership last June. Staff levels will remain at the current levels, says Craig.