Cash-strapped meatball brand in liquidation
The Yorkshire Meatball Company, which closed the doors on its sole restaurant last October, has entered into liquidation, leaving investors out of pocket.
The brand was launched in 2014 by father and son David and Gareth Atkinson, and its products were even sold by Asda, Tesco and Morrisons.
But the company was dogged by cashflow problems, and in March 2016 it launched a crowdfunding campaign to raise £100,000 – a target it smashed by over 30 per cent within two months.
Joint liquidator James Sleight, of Geoffrey Martin & Co, said: “The company’s financial difficulties arose from a culmination of the historic losses from its restaurant operations and insufficient working capital to promote its products to a wider audience.
“Whilst repeat demand for its products was strong and the company had been able to build up a loyal consumer following it was sadly not sufficient for the supermarkets and all products were withdrawn at the end of September.”
He added: “Despite repeated attempts by management to source further investment for the business to build on its initial success the company ran out of funds and ceased to trade.
“No employees other than management were affected as the company outsourced the majority of its operations.
“Geoffrey Martin & Co are concentrating on trying to find a buyer for the company’s brand/business in the hope that this multi-award-winning concept can be revived and offered to customers again. Any interest should contact this office.”