Sainsbury's distributor NFT races to find buyer - EpicNews

A relaxing meals distributor which counts J Sainsbury, the grocery store big, as its greatest retail buyer is racing to seek out new house owners after recording multi-million pound losses.

Sky Information understands that NFT Distribution Holdings, which relies in Derbyshire and employs 1,900 folks, is exploring a sale of half or all of its enterprise.

The method, which is being run by PricewaterhouseCoopers, has been operating since late final 12 months, in response to sources.

NFT performs an necessary position in Sainsbury’s provide chain, transporting frozen and chilled foods and drinks merchandise round Britain for the retailer.

Accounts for NFT filed at Corporations Home for the 12 months to September 29, 2018 present it made a loss earlier than tax of practically £31m.

In a press release, a spokesman for NFT stated: “Over the previous couple of months NFT has undertaken a strategic assessment of its enterprise with a view to addressing some operational challenges and repositioning for the long run.

“The corporate has concluded that it’s applicable to discover what curiosity could exist within the enterprise.

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“The method is progressing effectively and we’re assured in a constructive and swift end result.

“NFT has the continuing help of all its stakeholders and expects the same old top quality of service to be maintained and buying and selling to proceed as regular.”

Sainsbury’s declined to remark.