260 jobs saved as part of administration deal at Bridgwater-based catering services company

The principal business of Pro Serv Corporate Ltd, which provided services to schools and corporate clients across the South West and went into administration a few days ago, has sold to Taylor Shaw Ltd., in a move that managed to salvage more than 250 jobs.

Taylor Shaw is part of Waterfall Group, a national company with offices in Warrington, Durham, Sheffield and Milton Keynes that operates in the same market segment as Pro Serv, namely the provision of catering services to the education, care and business and industry sectors.

As the Pro Serv experienced some serious difficulties, it went into administration, with Ian Walker and Chris Norman of Begbies Traynor’s Exeter office being appointed joint administrators on 23 August.

Ian Walker said: "Unfortunately, the company began to experience financial difficulties over the last 12 months as a result of increased competition within the industry. This led to reduced operating margins which, coupled with significant losses at certain of its sites, meant that cash flow problems started to occur and this eventually resulted in the appointment of administrators.

"We are delighted to have found such a reputable buyer for most of the business of Pro Serv, which should ensure the continuation of many of its 30 catering contracts and the preservation of employment for around 260 staff."

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