Jupiter Marketing Limited, a grower, importer and wholesaler of fruit, supplying into a number of UK supermarkets, has entered administration.
Following a recent refinance, the company, which is based near Newport in Shropshire and has subsidiary operations in Chile, Europe and South Africa, has subsequently faced a challenging commercial period with cost inflation in all its operating regions, as well as dramatic rises in shipping costs and localised supply chain challenges. As a result, the directors of the UK entity took the difficult decision to file for administration.
Tim Bateson and Chris Pole from Interpath Advisory were appointed joint administrators to Jupiter Marketing Limited on 5 September 2022.
The majority of the company’s 85 members of staff were made redundant following the appointment of the joint administrators, with a small number of people retained to assist the administrators.
Tim Bateson, director at Interpath Advisory and joint administrator, said: “Unfortunately, following new investment in March this year, the business has faced a number of geopolitical and economic challenges which has ultimately led to its downfall. Our immediate priority is to support all employees affected by redundancy with the information they require to make claims from the Redundancy Payments Office.”