close

BREAKING NEWS: YCE falls into administration

IMG_6992 crop
YCE’s premises in Leeds is now closed.

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.

Story continues below
Advertisement

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.

Tags : administrationdealerdistributorinsolvencyliquidationout of businessyce catering equipment
Clare Nicholls

The author Clare Nicholls

4 Comments

  1. A very sad day my heart goes out to Nick and Linden and their team they tried their best to keep it afloat. All the best to them all in the future. This could have happened to any one of us during these difficult times I hope they are shown some compassion moving forward.

  2. A very very sad day.
    I spent many happy days during my time at YCE several years ago.
    They have some amazing people who have worked there for many years.
    I wish Lyndon, Nick and all my former colleagues all the very best during these difficult times.

  3. As Lee has said a very sad day indeed for what should have been a celebration of 40years in the industry. There was a reason the breweries used them for the vast majority of that time. They were great at what they do for the most demanding of clients. I think people would be surprised as to margins actually made instead of assumptions. They certainly wouldn’t have survived as long as they did doing it for next to nothing.

    I too have great memories, working with a great team of people in the 16 years I spent there. Many have been there for over 20 years. It was a business that had a very low turnover of staff, that should give an indication of how it was run and credit to the owners past and present.

    Having worked for Ian, John, Malcom, Richard and Lyndon over the years, I’m grateful for what they taught me and for giving me the opportunity when I was 18 years old as a “tea boy” It set me on the road to where I am today, in an industry I’m glad to be a part of.

    Too many people hide behind anonymous tags to slate companies when they are struggling. I feel for the suppliers, smaller companies and especially the individuals that have lost a considerable sum of money owed. The fall out reaches far and wide.
    It ultimately costs us all in the long run.
    Good luck to you all.
    Jono

  4. Very sad day for all involved. Had the pleasure of working with those guys on a number of occasions on various installations and the staff were always Brilliant to deal with, friendly people from project managers to the staff in the office and the lads in engineering.Like many others who have been affected by this terrible situation, hope they can all bounce back and manage to stay in the industry in some way.

    Good Luck to you all

    Dave

Leave a Response

Protected with IP Blacklist CloudIP Blacklist Cloud