Northampton-based catering equipment dealer Noble Express has been placed into administration.
The firm also supplies cleaning chemicals and other non-food essentials to the hospitality industry, but has experienced difficult trading conditions over the past 2 years.
This affected cash flow and led to the appointment of administrators PBC Business Recovery and Insolvency towards the end of January.
The full level of debt is being quantified and known creditors have been notified of the administration. However, appointed administrator Gavin Bates of PBC is hopeful that a buyer can be found, and procedures are in place for the company to continue trading at this time.
Bates said: “Noble Express is well-known in the industry and consequently this has generated some interest in the purchase of the business. We remain hopeful that we can secure the right buyer and Noble Express will be able to continue to build its reputation in the hospitality sector.”
It has been necessary to make two staff redundant, but the remaining five staff have been retained to assist with continued trading under the management of the administrators.
Noble Express began life as ‘There Was Ltd’ in February 2009, with Jonathon Round founding the firm but quickly resigning in March that year. Directors Peter Ward, David Nathan, Martin Higson and David Wallwork took over the running of the company, which they re-named as Noble Express, though all have since moved on. Companies House now records Andrew Southwell as the current MD, taking up the role in February 2016.
The company’s website claims it stocks over 12,000 products in its 60,000ft2 warehouse, and has a showroom on site at its Earls Barton headquarters in Northampton.
The dealer mostly focuses on providing light equipment such as trolleys, racks, utensils, pots and pans, tableware and cocktail equipment.