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Wingmans Chicken Limited

Parker Andrews Limited are delighted to have advised on the successful restructuring of Wingmans Chicken Limited (“Wingmans”).

Background

Wingmans was incorporated in May 2015 and started operating at ad-hoc street food events, festivals and pop-up collaborations throughout 2015 to 2018. As a result of the success of these events, the directors were able to open 3 restaurants in Kilburn, Shoreditch and Soho which traded successfully for a number of years.


Situation

Wingmans however started experiencing cashflow issues during 2022 and 2023 as a result of overdue liabilities to HMRC, suppliers and loan repayments to investors. Despite the directors’ best efforts, it became apparent the Company was insolvent and the directors subsequently sought advice from Parker Andrews Limited on the options available.


Solution

Given that it was considered that the business could still be viable, the decision was made to market the business with a view to completing a pre-packaged sale on the date of Administration. After a period of marketing and negotiations entered into with several interested parties, a sale of the business was completed to F&B Opco Limited. This sale also resulted in all 58 members of staff retaining their employment.

Parker Andrews Limited extends its best wishes to F&B Opco Limited and staff in its future ventures.

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