DEBTS of nearly £7m are unlikely to be paid after the collapse of high-end Devon food company Eversfield Organic Ltd. The Okehampton-based business, which sold produce in London’s upmarket Selfridges, fell into severe financial difficulties and shut its shops before going into administration earlier this year.
Administrators at accounting consultants Mazars this week published an update after concluding it was not feasible to rescue Eversfield Organic as a going concern. Documents filed at Companies House revealed debts of nearly £7m and now the administrators say there is unlikely to be any cash to pay them.
Creditors include HSBC, which held a debenture over the company’s assets, claiming more than £2m, but has been warned not to expect a payout. Also, 22 employees made redundant in September 2023 are claiming an estimated £3,833 as preferential creditors.
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