Administrators KPMG placed Beston Global Food into liquidation on Monday, having failed to find a buyer for the beleaguered dairy business which collapsed late last year.
KPMG was appointed administrator in September after a divestment of its meat processing subsidiary failed to prop the company up.
At the time, the company said it had received “several” non-binding indicative offers around refinancing and equity solutions for the business, including an offer from Japanese Megmilk Snow Brands for the acquisition of its Jervois facility and business.
However, Beston said Megmilk had advised on September 20, the same day administrators were appointed, that they would not proceed with its previous offer following extensive due diligence.
Read the original article here
