Field Seymour Parkes advise KRE Corporate Recovery on the sale of the business and assets of Neptune Rum (In Administration)
The restructuring and insolvency team led by Ian Wood-Smith advise KRE Corporate Recovery on the administration and subsequent sale of the business and assets of Neptune Rum.
Neptune Rum is an iconic British rum brand having won the World’s Most Awarded Rum of 2018/19 with over 65 awards globally which, due to the coronavirus pandemic, suffered financial difficulty leading to the appointment of KRE as administrators. KRE had considerable interest in the business and assets with several competing offers throughout the process leading to the eventual sale to James Strickland and his business partner Raymond Pugh on 18 June 2020.
FSP are delighted to build on their longstanding relationship with KRE by advising them on their appointment as administrators of Neptune and subsequent sale of the business and assets. Despite the pandemic, the transaction was completed within a short time frame ensuring the goodwill of Neptune Rum was protected.
We wish James and Raymond great success with their new business venture and hope to see Neptune Rum continue to build both its global and local brand.