Tuesday, 17 January 2012

Sangs, the makers of Moray Cup, is in administration


Sangs, which makes the Macb flavoured water brand and Moray Cup soft drink, has gone into administration.
Banff-based Sangs employs about 60 people and has been established for 116 years.
In a statement Zolfo Cooper, said the business had been "experiencing cash flow problems due to today's extremely challenging trading environment".
They did go onto to say that the business could be sold as a going concern.  This is what is known as a trading administration where the administrators run the business for an indeterminate length of time until the business can be turned around or sold.  Alternatively it could exit the administration via a CVA.  The insolvency practitioner has a duty to find the best outcome for creditors
The Macb brand has also been the shirt sponsors of First Division football club Partick Thistle since the start of the current season.
Eilish McColgan, one of the rising stars of Scottish athletics, was expected to announce a sponsorship deal with the company but this has been cancelled.

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