Leicestershire-based Burleighs Gin has entered administration, with a sale being eyed for the business by Christmas.
David Elliott and Bai Cham, of Begbies Traynor (Medway Office), were appointed as joint administrators of Burleighs Gin Limited on 5 December 2022.
After reviewing the company’s financial position, the directors of Burleighs concluded that a successful resolution to a “very long-standing” debt could not be reached.
One of the secured lenders therefore had “no other option” but to move the business into administration so that a successful outcome could be reached for as many stakeholders as possible.
David Elliott, of Begbies Traynor, said: “Following the appointment, Begbies has successfully marketed the business for sale and a preferred bidder has been selected.
“It is hoped that a successful conclusion to the sale process will be reached by Christmas with the business starting the new year under new and supportive ownership.”
