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09
Apr 2023
'Intense' talks to save Ripon firm Farmison after buyout collapses
Intense negotiations are taking place over the bank holiday weekend to save one of Ripon's largest employers .
Premium meat retailer Farmison & Co ceased trading on Thursday and entered administration. Most of the 92 staff were made redundant.
All items on the company's website are currently listed as 'out of stock'.
Farmison co-founder John Pallagi told the Stray Ferret he was talking to a consortium led by two Yorkshire businessmen about a management buyout.
It comes after buyout talks with another online butcher, Tom Hixson of Smithfield, fell through.
Mr Pallagi said:
Mr Pallagi said last night he had been engaged in 48 hours of exhausting talks with the potential new owners after administrators FRP took control of the company on Maundy Thursday.
He said the firm had serviced all orders that had been placed and a "small working team" remained on site to deal with any unresolved issues.
Read more:
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Last year Mr Pallagi sold Farmison, whose customers include Harrods and Fortnum & Mason, to Scottish private investors Inverleith LLP.
He remained as chief executive and a new three-year business plan was agreed. But when the plan faltered he approached Ripon and Skipton Conservative MP Julian Smith and Prime Minister Rishi Sunak for help.
Mr Pallagi said:
Mr Pallagi started Farmison to work with local farmers and encourage people to ‘eat better meat’.
Despite sales doubling to £12m in 2021, the company then made a loss of £2.6m.
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