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.
“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.