Consortium submits bid to bring back Ripon firm Farmison
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Last updated Apr 15, 2023
Farmison
The company's Ripon headquarters

A consortium led by Farmison & Co founder John Pallagi has submitted a bid to bring back the firm.

The premium online meat retailer ceased trading nine days ago and went into administration with the loss of 75 jobs.

But Mr Pallagi said he and two “high profile Yorkshire businessmen” made an offer last night to administrator FRP to buy the business and its assets.

He said the offer, if accepted, would revive Farmison and provide jobs for 50 staff.

Mr Pallagi said the consortium believed in the business model and recognised the value of the firm to Ripon. He added:

“Farmison is very important to Ripon and I am thrilled that we have attracted the interest of high profile Yorkshire businessmen with proven track records.

“It’s great that we’ve got to this point but we are not there yet.”

FRP said on Wednesday it planned to begin the sale of assets. It will now assess the bid before deciding whether to accept it.

Mr Pallagi said he hoped to have an answer by midday Monday so Farmison could operate again as quickly as possible and “create the best level of continuity possible”.

Not only have jobs been lost, but the supply chain has also been interrupted.

Last year Mr Pallagi sold the award-winning firm, whose customers include Harrods and Fortnum & Mason, to Scottish private investors Inverleith LLP.

Mr Pallagi remained as chief executive and a new three-year business plan was agreed.

FRP’s statement on Wednesday outlined the issues that brought down the award-winning company after the takeover. It said:

“The business recently underwent a fundraising process to secure external investment to support its business plan but did not secure a sufficient level of interest.

“Following a period of significant operational investment, the business has not generated the required level of revenues to sustain its high cost base.”


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