Leeds-based distributor, YCE Catering Equipment, has not succeeded in its quest to find a buyer and has therefore lapsed into administration.
Last month the dealer engaged Eddisons to market the business, after experiencing financial difficulties due to the impact of Covid-19 on the hospitality sector.
Unfortunately no viable purchaser was found, and so Begbies Trainor has now been appointed as the joint administrator, with insolvency director Richard Kenworthy handling the case.
YCE was founded in 1980 as the Yorkshire Catering Equipment Company. The firm employed 27 staff, offering nationwide kitchen design, installation and maintenance services.
The business’s website is now offline, its premises are shut, and its main phoneline is unmanned.
The distributor’s latest publicly available financial report for the year ending 31 March 2019 showed a turnover of £7.2m and operating profit of £202k.
Representatives for YCE have pledged to provide further details about the situation soon.