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BREAKING NEWS: YCE seeks buyer to secure business future

YCE-demo-kitchen.jpg
YCE features a demonstration kitchen at its Leeds headquarters.

Leeds-based distributor, YCE Catering Equipment, has put itself up for sale after being impacted by the coronavirus crisis.

YCE Catering Equipment MD Nick Brassett confirmed to Catering Insight: “We are experiencing financial difficulties due to the impact of Covid-19 on the hospitality sector.

“We have therefore taken the difficult decision to engage Eddisons to market the business.

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“As a result we are in discussions with a number of interested parties with a view to complete as soon as possible to enable us to resume our usual high levels of service to our customers.”

The Eddisons listing is headed as “an exciting opportunity to acquire the business of large independent suppliers and installers of commercial catering equipment”.

Expressions of interest in the sale were required to be submitted by last Wednesday (12 August).

YCE was founded in 1980 as the Yorkshire Catering Equipment Company. The firm now has 27 employees offering nationwide kitchen design, installation and maintenance services.

However, YCE’s office is reportedly currently shut and its main phoneline is unmanned.

The distributor’s latest publicly available financial report for the year ending 31 March 2019 shows a turnover of £7.2m and operating profit of £202k.

Tags : businesscoronavirusdealerdistributorfor saleyce catering equipment
Clare Nicholls

The author Clare Nicholls

14 Comments

  1. oh dear, Live by the sword die by the sword – must have gone to the same business school as Waltons!!!!!
    Always some lovely cars outside

    1. See this is the problem with the internet and social media. Key board warriors who hide behind pseudonyms thinking they are better than everyone else. If you really believe what you are saying at least have the decency to put your name to it.

      1. the real steve mooring from cs catering equipment and caffe society – I didn’t write the above comment , Why someone has put my name on their comments I don’t know. I do agree with it though and am genuinely sorry to see any distributor in trouble especially fellow Yorkshire ones at that . If anyone at catering insight reads this you will see my correct email address in your back office

  2. Lets hope for all concerned that they secure a buyer YCE are a pleasure to work with and very highly regarded by their customers and the people they work with. Good luck Nick and team

  3. What’s it worth?

    They don’t own the building, they don’t make profit , they hold no stock so it’s worth nothing . All you’d buy is good will but any existing company could just call their customers and supply them. No need to buy it.

    Nothing to do with covid

    1. Sev

      Everyone is allowed an opinion, for what it’s worth we put them on pro forma years ago for late payments and credit checking agencies have had them as “cash transactions” for over a year!
      without doubt Covid has not helped but it’s not the cause.

  4. Lol. We all really know who Yorkshireman is ..
    I’m sure his business is doing great during this tough time. Maybe we should all follow his example !!!

    Yce . Guys Genuinely sad to see another great name in the industry in trouble .. these are terribly challenging times for the market . If I can offer any help, please just reach out .

    Cheers
    Fellow distributor

    1. 7 years ago is entitled to their opinion as is anybody else. In an industry where so many companies fly too close to the sun & then go bust taking many manufacturers for copious amounts of revenue I can’t blame them. We all know this will never change especially with manufacturers with the moral fibre of the likes of Lincat agreeing to open them back up on same terms the very next month! Why bother running a stable business? Why bother paying your bills? The industry needs a change of attitude but I don’t believe it ever will. They won’t find a buyer liquidate the firm and be bought for peanuts off the administrator and be back on same terms in a matter of months.

  5. At times like this we should be supporting each other
    Too much bitterness It’s people’s livelihoods mortgages and families. Get a grip

  6. Lincat only love YCE because they specified them to Marstons over Falcon which I imagine has been great for Lincat but as YCE are only allowed to add a 10% margin they get the bum end of the deal.

    Dealers need to refuse to deal with these big pub groups and chain restaurants as the margins are unsustainable for the level of resources required to manage the account. 10% and below can not sustain project managers, designers, account managers etc etc, especially when they decide to stop spending and the dealer hasn’t been making enough to cover the lean times.

  7. Lots of undeserved abuse from some people, I’ve had cause to be associated with them for over twenty years and I feel sorry for those affected, I have nothing but good things to say about YCE and I hope they find a buyer and secure the jobs for all those that work there.

  8. I too feel sorry for most of the staff. I hope they secure jobs at a better company which looks after them and invests money back into the company rather than electric cars, pointless phone systems and lack lusture marketing . I have been involved with YCE for over 10 years they used to be a good family run company but in more recent times its changed and not for the better! Good luck to everyone involved the grass is sometimes greener!

  9. Here’s thinking of those affected at this time. The peoples jobs. Hoping it all gets sorted and the next chapter, in whatever guise that may be, can move forward.

    All the best,
    James

  10. I agree with a lot of comments on here…. you can’t run your business with 10% mark up…. its down to the rest of the catering supply companies not to let people like Martsons tell us how much we can make… I would to like to hear how much Lincat are owed by YCE…!

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