Job Fears At West Sussex Supermarket
11:42am 17th February 2017
(Updated 2:17pm 17th February 2017)
There are job fears in West Sussex as a supermarket chain goes into administration.
We are told the company which owns Budgens in Littlehampton has had "trading difficulties" since last year.
16 staff work at the site, which only opened last summer.
However, administrators acting for Food Retailer Operations Limited has told Spirit FM all stores are still trading.
They say discounts are being offered, while they 'formulate appropriate trading strategies'.
Joint administrator Mike Denny, said: "Our trading strategy reflects our continued focus on engaging with interested parties, whilst seeking to optimise trading performance across all stores.
"We will continue to evaluate our strategy as the sale process progresses over the coming days and weeks".
Mike Denny, Robert Moran and Matthew Hammond of PwC were appointed as Joint Administrators of Food Retailer Operations Limited ("FROL") on 10th February 2017.
FROL operates 34 convenience stores across the UK, which trade under the Budgens brand, and employs 872 people.
It also holds the leasehold interests in a further 36 non-trading stores, two non-trading properties and the head office of the former Somerfield business.
Since its acquisition of the stores from Co-op in July 2016, the Company has experienced difficult trading conditions.
This has resulted in the Company being placed into administration despite sustained efforts to make the business more commercially viable.
Last week, Mike Denny said: "FROL has faced significant headwinds in the form of pricing pressures, intense competition and structural change across the food retail sector.
"We are continuing to trade all 34 stores, whilst engaging with interested parties for the sites and the other leasehold interests of the Company. We will work closely with the employees over the coming weeks."
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