Ilke Homes, the manufacturer of modular housing based at Flaxby, near Knaresborough, has filed a notice of intention to appoint an administrator as a deadline to save hundreds of jobs approaches. 

The company has been looking for a buyer since running into financial difficulties it attributed to “volatile macro-economic conditions and issues with the planning system”, which had “complicate[d] fundraising and housing delivery”. 

The Stray Ferret understands the company has been offered to potential buyers for bids over £1, and some major house-builders have been approached.

Any bids for the business will need to be submitted before the end of this week, when the firm’s existing backers will decide the firm’s future. 

If no deal is forthcoming, the company could enter administration in 10 days.

Ilke Homes said it needed additional funding to fulfil a £1 billion order book and to protect jobs, adding that new investment was needed to build its pipeline of 4,200 new homes.

The company specialises in modular housing that is built in its factory and then put together on site in a process that saves time and costs, reduces carbon emissions, and is not weather-dependent.

Earlier this month, the company told most of the nearly 1,000 employees at its 250,000 sq ft factory not to come into work until further notice, although they have reportedly remained on full pay. 

Ilke Homes was established in 2017 and opened its Flaxby factory the following year. Since then, it has built up a client base that includes major institutional investors, housing associations, developers and local councils. 

In 2021, the company raised £60 million in investment, half via a loan from government agency Homes England and half from investors. 

A year later, it raised a record-breaking £100 million from new and existing shareholders, following successive years of triple-digit growth. 

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Online premium meat retailer Farmison & Co held an event in Ripon on Saturday to mark its shop fully re-opening.

Cut by Farmison & Co is now serving customers from 9am to 2pm every Saturday at Bondgate Green, as well as from 9am to 5pm on Wednesday to Friday. It also provides a click and collect service Monday to Saturday.

In-house butcher Jeff Baker held a barbecue and special offers were available to celebrate the firm’s rapid revival.

Farmison ceased trading in April when the firm collapsed into administration.

A consortium led by ex-Asda chief executive Andy Clarke and Chilli Marketing owner Gareth Whittle acquired the business and began a phased reopening last month.

Mr Whittle and chief operating officer Michelle Kennedy were at the Ripon site on Saturday to celebrate the comeback.

Gareth Whittle and Michelle Kennedy outside Cut on Saturday

Mr Whittle said the first aim was to stabilise then focus on increasing revenue from e-commerce as well as wholesale and retail channels. He added:

“Michelle and the team have moved mountains to get us back open.

“We are working with pretty much all the key suppliers, who have been incredibly supportive.”

Mr Whittle said the company’s mission to provide better meat sourced sustainably in the UK persuaded him to get involved, adding:

“I honestly believe in what we are doing and am excited about our plans.”

Staff recruitment

Ms Kennedy, who has been with Farmison since it was founded in 2011, said the company had started trading online within eight days of being rescued and had been building up the business since.

It now has 42 staff, many of whom worked for the firm pre-administration, and expected to be up to 59 this year.

Ms Kennedy said Mr Clarke and Mr Whittle brought fresh strategic thinking and strong business connections to Farmison. She added:

“It’s amazing to have them resurrecting the business. Gareth is a marketeer and has huge expertise in that area and Andy is a retailer with a wealth of business he can provide to the business.”

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A London investment firm is in talks to buy Masham’s troubled Black Sheep Brewery, according to media reports today.

The brewery, which employs about 50 staff, said last week it intended to appoint administrators after being hit hard by covid and rising costs.

Sky News reported Breal Capital has emerged as the leading contender to acquire the company, which was founded in 1992 by Paul Theakston.

Sky News said “other bidders remained in contention to acquire the business, and that a deal with Breal was not yet certain”.

It added the brewery asked interested parties to table offers by last Friday, and cited a pre-pack administration as one possible outcome.

Breal Capital is part of Breal Group, which did not respond to the Stray Ferret’s request for comment today.

Charlene Lyons, Black Sheep Brewery’s chief executive, said last week:

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As Masham celebrated the King’s Coronation, people in the small market town have spoken of hopes a buyer can be found for the Black Sheep Brewery.

Last week, Black Sheep announced administrators had been appointed after being “hit very hard” by the pandemic and a rise in costs.

The company, which employs around 50 members of staff, was founded in 1992 and has become a tourist hotspot bringing a significant amount of footfall to the town.

One local business owner told the Stray Ferret people are worried about a potential loss of income for their own businesses if the brewery doesn’t survive.

Tim Ledbetter, owner of Bentley’s of Masham, said:

“With it being such a big employer, there is then a big knock-on effect.

“We get a lot of trade from visitors of Black Sheep — it could be detrimental.”

The brewery reported turnover of £14.3 million as of March 31, 2022, according to its most recent accounts. However, it also stated a pre-tax loss of £1.18 million, compared to £862,871 profit in the previous year.

Read more:

• Masham’s Black Sheep ‘trading as normal’ as administration looms
• Masham’s Black Sheep Brewery to enter administration

Reports of  interest from several potential buyers has given some cause for cautious optimism.

Emily Swift, an employee of Through the Looking Glass, said:

“People were definitely concerned, but talks of a possible buyer has eased worries.”

A confirmed acquisition or sale has not yet been confirmed, and Teneo remains in place as the brewery’s financial adviser.

Ripon online butcher Farmison & Co is to start selling some items again today.

The company, which was acquired from administration last month by a consortium led by ex-Asda chief executive Andy Clarke, will sell a selection of heritage breeds here.

More ranges will be brought back to the website over the weeks ahead.

The company’s Ripon shop at Bondgate Green and click-and-collect location, ‘Cut by Farmison’, will also re-open this week.

Farmison is in the process of recruiting 50 staff and re-engaging suppliers after it ceased trading on April 6 and entered administration.

Now, after a certification inspection at its Ripon headquarters, the Food Standards Agency has given the company the green light to restart operations.

It has obtained commitments from farming partners in the north of England, that they will continue to supply Farmison with the grass-fed, heritage breed meat that is at the heart of the firm’s customer promise to ‘eat better meat’.

The sustainable online meat retailer was acquired last week by a consortium led by Mr Clarke and Chilli Marketing’s Gareth Whittle, Christian Barton and Kieron Barton.

Initial ranges available to customers online include 32-day dry-aged rib steak, handmade hot dogs and Farmison & Co’s signature cut dry aged sirloin steak alongside pork, chicken and lamb.

Executive chairman Mr Clarke said:

“I want to give a massive thank you to the Farmison team who’ve acted with incredible speed to bring the business back to life – and of course to our farmers across Yorkshire and the north, who are determined to support the business get back on its feet.

“We’ve been absolutely bowled over by the messages of support from colleagues, customers and suppliers since taking ownership of the business.

“It will be some weeks yet before we have our full ranges back online, but we thank each and every one of the customers who’ve sent us those messages of encouragement and support over the past few weeks.  It means the world to the whole Farmison team.”

Farmison & Co sells online directly to customers across the UK, and through wholesale channels such as Harrods, Selfridges, Fortnum & Mason and Michelin star restaurants.

Read more:

• Hot Seat: Bringing Ripon firm Farmison back to life
• Ripon firm Farmison begins hiring staff as it prepares for comeback

Masham’s Black Sheep Brewery has announced it is to appoint administrators.

Last month, the company, which employs about 50 staff, launched a strategic review to explore funding options to develop the business. One option was to sell the company.

However, the firm announced in a trading update on Friday it was “no longer considering the sale of the company”.

Today, in a further statement, the company has announced it is set to appoint administrators.

It said:

“On 11 April 2023, the company announced it had commenced a review of its strategic options, including the possibility of an acquisition of the company in all or in part, given constraints on its funding. On 27 April 2023, the company made a further announcement explaining that it was no longer seeking an acquisition of the entire issued share capital of the company, but it was still considering a sale of the business and assets of the company.

“The board of the company has resolved to file a notice of intention to appoint Kristian Shuttleworth and Clare Boardman of Teneo Financial Advisory Limited as administrators to the company and BSB Retail Limited.”

Black Sheep, which was founded in 1992 by Paul Theakston, said it had made the decision to “protect the interests of its creditors”.

It added that “no shares will be traded on asset match until further notice” as a result of the move.

It comes as the company appointed Teneo as its financial adviser to support its review in April.

At the time, Black Sheep said it was experiencing good sales volumes of its beers, however there remains a significant constraint on funding due to economic conditions.

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Shortly before Christmas, Andy Clarke heard rumours all was not well at Ripon firm Farmison & Co.

Having spent a career in retail, including six years as chief executive of Asda, Mr Clarke was aware of the company’s mission to ‘eat better meat’ and innovative business model, which had attracted clients including Harrods and Fortnum & Mason.

He was approached about getting involved but was busy at the time. He adds:

“The phone went quiet for a while and then there was a bit more noise about the company being in a challenging position. When it went into administration, I decided to look in more detail.”

Farmison entered administration on April 6 — Maundy Thursday. The ensuing Easter drama ended, appropriately, with a resurrection when a consortium spearheaded by Mr Clarke acquired the business from the administrators just over two weeks later.

It prompted a collective sigh of relief in Ripon, where Farmison was one of the city’s largest and most feted employers, with almost 100 staff and numerous awards.

Farmison will stay at Bondgate Green

Some former staff, who lost their jobs when administration happened, are being rehired and new ones are being sought as Farmison prepares to recommence trading within weeks.

What possessed Mr Clarke to get involved as executive chairman? He says:

“I’ve lived in Yorkshire most of my life and I’ve always been keen to support Yorkshire businesses. I’ve a strong affection for local and Yorkshire. I was chair of Leeds Bradford Airport for nearly five years.

“When I saw what I believed to be a great brand at risk of disappearing I felt I had to have a look to see if I could help. At that point I didn’t know what help was. It soon became clear I had to find a partner and invest in it.”

From then, events moved rapidly.

“It became a race to see who was going to rescue the business. In the final throw of the dice, we were given approval by the administrators who felt our bid to take forward the business and protect jobs was the strongest.”

Read more:

• Ripon firm Farmison to trade again after buyout completed
• Ripon firm Farmison begins hiring staff as it prepares for comeback

The four-strong consortium also includes Gareth Whittle, the founder and former managing director of Chilli Marketing. But not Farmison co-founder John Pallagi, who was heavily involved in the race to save the company until the last minute. Mr Clarke says:

“We discussed with John what role he might play. We are still talking to John – there could be a role for him in future. He developed a great brand and his vision to ‘eat better meat’ is what attracted me.”

Mr Clarke says the immediate challenges are to refocus, manage the cost base and stabilise the business to bring it back to growth. No drastic changes to its business model are planned. He says:

“It’s fundamentally a good business that ran out of petrol because the cost base was too high.

“We are primarily a B to C supplier. That’s the primary purpose of the business and I would suggest that will be retained.”

Mr Clarke, who lives in East Yorkshire, says he’s had “brilliant support” from suppliers even though Farmison’s administration left some being owed money. He says:

“It’s sad that these businesses have lost out because of the previous company and the previous management team. We will develop a stronger business together.”

He reaffirmed Farmison’s commitment to its Bondgate Green site in Ripon by saying the consortium has assured the landlord it intends to stay. He says:

“It’s a great site. We are at the heart of the community.”

‘Eat better meat’ is Farmison’s strapline

Mr Clarke, who is also chair of Menzies Distribution and holds other senior roles, will divide his time at Farmison with his other business ventures.

Chief operating officer Michelle Kennedy is in charge of day-to-day operations, supported by commercial director Andy Cavanna and finance manager Liam Duggan.

“I add value through my experience but when it comes down to it it’s about the capability of the team to work together and get this business back to where it’s meant to be.”

Even with his long experience in retail, however, he says the Farmison acquisition has been “quite a journey”.

“I’ve driven the Ripon Road on more occasions than ever before. It’s been great. I’ve loved it. It’s a very exciting business to be involved in and we hope we can make it successful again for Ripon.”

Ripon firm Farmison & Co has begun hiring staff as it prepares to start trading again.

Employees at the premium meat retailer were made redundant when Farmison entered administration on April 6.

But a consortium led by former Asda chief executive Andy Clarke and Chilli Marketing founder Gareth Whittle acquired the company from the administrators on Monday.

Mr Clarke, who has been appointed executive chairman, told the Stray Ferret yesterday everything was moving “very quickly” and he hoped trading would recommence in weeks rather than months.

He said the new company had so far hired five staff, who all previously worked for Farmison.

They include Michelle Kennedy, who as chief operating officer will be in charge of day-to-day operations, commercial director Andy Cavanna and finance manager Liam Duggan.

Mr Clarke said Farmison employed almost 100 people at its peak and the ambition was to get back to that number but right now he could not give a precise figure on how many roles will be created. He said:

“A recruitment drive is underway and we have started contacting some old colleagues.

“I think it was a good business that ran itself out of petrol. Basically the cost base was too high.

“Fundamentally the model was good.”

Look out for a fuller interview with Mr Clarke this weekend.

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The Ripon-based online meat retailer Farmison & Co is to re-commence trading.

A consortium led by Andy Clarke, the former chief executive of Asda, today acquired the company from administration for an undisclosed sum.

John Pallagi who co-founded the business with Lee Simmons in 2011, is not listed as a consortium member.

The consortium said in a statement:

“Over the course of the coming weeks, the consortium intends to recommence operations at Farmison’s production facility in Ripon and return the business to being an important employer in the city.

“The consortium will work with the whole leadership team to firstly stabilise the company after a difficult year and then devise and implement a growth strategy.”

It is not known how many staff will be hired but a spokesman said a “substantial” number of positions will be created.

Mr Clarke, who was chief executive officer of Leeds-based Asda from 2010-16 will become executive chairman of Farmison.

Acknowledging the vision of Mr Pallagi, he said:

“While unable to navigate the economic difficulties of the last 12 months, John’s ‘eat better meat’ mission that sits at the heart of Farmison’s business, is one we believe has significant potential for growth.

“And as a retailer brought up on a farm in Yorkshire, I know how producers across the region appreciated Farmison’s commitment to the best producers who could provide the highest quality meat to customers.

“That’s why I’m very excited about Farmison’s prospects.  We have an opportunity to scale this business and further develop both its direct-to-consumer and wholesale plans, building on the ethos and values of what Farmison stands for.”

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But Mr Clarke added:

“Nevertheless, there is much work to do to get the business back on its feet and trading again — not least re-engaging with Farmison’s important network of farmers across the region and re-employing colleagues”.

“In the short-term, our goal is to bring financial stability to the business, and we’re committed to re-energising Farmison’s long-term vision so it can take advantage of the growth opportunities that are undoubtedly available to it.”

In the course of the coming weeks, the consortium expects to re-open Farmison’s website.

Farmison sells online directly to customers across the UK, and through wholesale channels such as Harrods, Selfridges, Fortnum & Mason and Michelin star restaurants.

Other consortium members include former Farmison board member Gareth Whittle, founder and former managing director of Chilli Marketing.

Chilli Marketing’s Christian Barton and Kieron Barton are also involved with the consortium.

Arvindar Jit Singh, joint administrator and partner at FRP Advisory said:

“We are thrilled to have been able to secure a buyer for Farmison who is able to recommence trading and bring jobs back to Ripon.

“There had been significant interest in purchasing the business and assets of Farmison and a number of serious offers had been put forward in recent weeks, but the proposal from the consortium provides the best opportunity of both re-establishing the business and maximising returns to creditors.”

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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• “Intense’ talks to save Ripon firm Farmison after buyout collapses