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Morning Briefing for pub, restaurant and food wervice operators

Wed 9th Sep 2020 - Tossed bought out of administration by management
Tossed bought out of administration by management: Healthy eating brand Tossed has been acquired out of administration by Neil Sebba and Angelina Harrisson. The pair were previously managing director and commercial director, respectively, of Zest Food, which operated the Tossed and Vital Ingredient brands. Sebba and Harrisson’s new company, BNW Food (BNW), has also made arrangement to acquire at least six of the premises previously traded by Zest from administrators Quantuma. BNW is in discussions to secure several more stores, and expects to create at least 50 new jobs in central London by the end of September. Brasier Freeth and Edwin Coe are advising BNW. A soft launch is being planned at the Clerkenwell store next week, and further stores are expected to open in the coming weeks, including a delivery kitchen at Foodstars Battersea. Zest was placed into administration and all staff were made redundant following an unsuccessful trial reopening period in June where walk-in sales were heavily impacted due to covid-19. Sebba said: “The past six months have been impossible for foodservice in London, and to see Zest go into administration in July was extremely difficult for everyone concerned. Angelina and I are delighted to be given the opportunity to save this wonderful brand. We are thrilled Londoners will still be able to get their Tossed fix, either in person when they return to their offices or on delivery. No doubt the winter trading in London will remain extremely difficult as the covid-19 situation unfolds, but we are working with a group of landlords and an administrator who have approached this crisis collaboratively. This is refreshing and speaks volumes for the strength of our brand and our plans for its reopening and beyond.” Simon Bonney, managing director at Quantuma, added: “With such a tough trading environment in London, it’s great to have delivered a successful outcome in conjunction with a strong management team, and to have secured a future for the brand in these difficult times.”

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