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Thursday, 5 July 2012

Sumo Salad file intention to appoint administrators

The Japanese salad bar, Sumo Salad, has filed an intention to appoint administrators yesterday.  The full notice can be seen below

http://www.london-gazette.co.uk/issues/60199/notices/1622634/recent=1;category=corp-insolvency-administration;subcategory=appointments

No information has been released as yet.  The firm started in Australia and has opened 3 salad bars in the UK, with two in London and one in Norwich. 

Sandwich bars are a competitive business and there has been an explosion in Eastern orientated outlets recently - Pod, Itsu, Wasabi, to name a few. 

Are they in administration yet then? 

Well not quite,  Resolve partners have filed an intention to appoint administrators.  This is where the company files, at court, a document that outlines that they intend to go into administration if a solution cannot be found to their immediate financial problems.  Once this is notice has been sent to the court a moratorium is created over the company preventing any creditor from starting any legal action or continuing any existing legal action against the company without express permission from the court.

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