UP-AND-COMING soft drinks company Get Juiced has collapsed into liquidation after the owner, Frank Pawley, ran out of cash to fund its bid for growth.
The Stirling-based firm ceased trading last month and all its employees were laid off, but liquidator Donald McNaught, of accountancy firm Johnston Carmichael, hopes the company can be revived through a sale.
He said: “Get Juiced has an established brand name which, I believe, will attract a lot of interest from potential buyers. My immediate aim is to preserve the value of the brand and goodwill by achieving an early sale of the business and its assets.”
The company, which started as an enterprise in a St Andrews coffee shop 15 years ago, had been seen as a rising star in the food and drink sector. Pawley bought the firm three years ago.
Last year, the business tested an invention by scientists at Queen Margaret University in Edinburgh that used microwaves to kill bacteria in the juice, extending shelf life with no loss of flavour. The machine helped it gain more supermarket contracts, doubling production and taking its headcount to 25.
Less than a month ago, Get Juiced was publicly celebrating a deal with Asda to stock two of its freshly squeezed fruit juices in 53 stores across Scotland.
McNaught said: “It was in a growth stage and had quite a high cash burn. It wasn’t far from achieving the volumes needed to make it a success but the owner ran out of funds.”
He said a buyer would benefit from the company’s “significant investment in top-of-the-range equipment and product development”, as well as its expanding sales distribution network.
“The company has secured partnerships with some extremely high-profile customers, including some of Scotland’s most-exclusive hotels,” he said.