Following the news that Tree of Life and The Health Store – owned by Health Made Easy Group – have entered administration, Interpath Advisory, the company now managing the ‘affairs, business and property’ of both wholesalers, has responded to NPN’s request for comment.
Interpath says it is exploring ‘a number of options’ for the wholesalers including seeking a buyer to take ownership of ‘the businesses, their assets and intellectual property’.
It also confirms that the sales of Health Made Easy Group’s other subsidiaries, Higher Nature and Freshly Cut (trading as Peppersmiths), have now been agreed.
“We’re delighted to have been able to conclude this transaction, which safeguards the future of the market-leading businesses, as well as preserving many jobs. We wish the purchaser all the very best for the future,” comments Chris Pole, MD at Interpath and joint administrator.
Our immediate priority is to assist those members of staff who have been made redundant
The administrator explains in a statement that over recent months, Health Made Easy Group has ‘faced a number of challenges including an unexpected sales decline following the loss of a large customer, and unprecedented market conditions that have impacted on financial performance’. “Despite significant efforts by the company to avoid insolvency, the directors reached the conclusion that it was in the best interest of creditors for the company to be placed into administration.”
Across Tree of Life and The Health Store 63 staff members were retained ‘to assist the administrators in the realization of assets and the performance of their statutory duties’; the remaining 143 employees were ‘regrettably’ made redundant.
“Regrettably, the loss of business from a key customer, together with the effects of the well documented economic headwinds, including inflationary pressures, have been incredibly challenging for Tree of Life UK Limited and Health Stores (Wholesale) Limited,” adds Pole.
“Our immediate priority is to assist those members of staff who have been made redundant and provide them with the information they require to make appropriate claims.”
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