Posted on 14 July 2015
Local bespoke delicatessen café, Jack Rabbits, has been sold via an Administration process, undertaken by local accountancy and business advisory practice, Smith Cooper on 13 July 2015.
Located in the heart of the Cathedral Quarter in Derby, Jack Rabbits was founded by Amelia Horne in 2009, establishing a niche market in Derby of preparing locally sourced, AGA cooked food served in a relaxed bistro café. The café has an adjacent deli and grocer, sourcing a variety of fresh artisan produce, which has received national awards and recognition.
A shareholder dispute led to a disparity in opinions in the Company’s ongoing trade, which combined with increasing costs, gave the Company little alternative but to engage in an Administration process after other options had been considered and in light of the company’s financial position. Dean Nelson, Head of Business Recovery and Insolvency at accountancy and business advisory practice Smith Cooper, was subsequently appointed Administrator on 13th July 2015, along with fellow Partner, Nicholas Lee.
The business and assets have been acquired by a local consortium of like-minded individuals, who aim to “continue the Jack Rabbits ethos of being a place for the people, renowned for excellent customer service and a high quality produce, sourced from local suppliers”.
Dean Nelson commented: “I am delighted to complete the sale and preserve the business of Jack Rabbits, which has become a popular deli and grocer in the Cathedral Quarter, located a short walk from our own offices, whilst saving all 20 jobs in the process.
I am highly optimistic that Jack Rabbits will continue to source from handpicked local producers, feeding small owner managed businesses in the local economy and that the new management team will continue to develop the success of the brand in order to grow the business further.”
One of the new owners, Nick Taylor, added: “Our focus is to continue a thriving rustic experience centred on homemade food and drink, providing a simplistic menu combining high quality ingredients from a variety of local producers.
Our intentions are to expand to Ashbourne, Bakewell and throughout Derbyshire, creating a memorable experience for each individual customer, whilst introducing an evening menu providing continental flavours, exquisite wines and local beers. Furthermore we intend to invest in external catering, developing a full range of services, from weddings and events, to an evening cookery school featuring Blok knives and other talented kinsmen within the industry.
We’re all really excited to have this fantastic opportunity and invite you to join us on the Jack Rabbit’s continued development and expansion.”
Smith Cooper were assisted by Else Commercial Solicitors and Nelsons Solicitors in the legal formalities, whilst Geldards LLP acted on behalf of the purchaser and Flints on behalf of the landlord.