An online food platform that sold popular British food and drink products to people living overseas has fallen into administration and ceased trading with immediate effect.
Yate-based British Corner Shop was founded in 2004 and sold a whopping 6,000 household brands to its global customer base including M&S Percy Pigs, Warburtons crumpets and Ambrosia Custard. In 2021, the company agreed a deal with Marks and Spencer to sell 800 different M&S products on its platform.
The business, which had a head office and warehouse in the Stover Trading Estate in the town, collapsed on January 2 and Jonathan Dunn and Matthew Whitchurch of business advisory firm FRP were appointed joint administrators.
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According to the administrators, the business had suffered "ongoing financial challenges" following the impact of Brexit and the pandemic, and all 20 employees were made redundant.
The British Corner Shop's website says the business is no longer able to respond to any customer or supplier queries. It also states the administrators will be writing to all known creditors in relation to the administration.
Mr Dunn said: "British Corner Shop faced significant operational challenges over the past few years and, regrettably, was no longer able to meet its financial obligations. Our focus now is on supporting staff with their applications to the Redundancy Payments Service as we wind down the business."
In 2021, British Corner Shop secured insurance from government export credit agency UK Export Finance (UKEF), which works with the Department for International Trade to provide support to exporters. At the time, the agreement protected the company's relationships with existing clients, including a contract with an Indian supplier worth £200,000.
Last year, British Corner Shop was bought out of administration by investment firm Rcapital.
