“I supported the directors of this online retailer with the turnaround and sale of their business.”
The Food Ferry were a niche online retailer, providing customers with grocery and gourmet products. With a range of online and offline ordering mechanisms and delivery within London through its own fleet of vehicles and outside of London via courier, the operation is supported by a loyal customer base, many who had been shopping with Food Ferry for over 10 years.
I was engaged by The Food Ferry directors during 2004, to assist with the development of a turnaround strategy. Sales had been in decline and profits squeezed by the entry of the major supermarket groups into the online retail market.
The assignment led to 2 major activities:
- A programme of cost-cutting which stemmed the immediate profitability concerns, and
- A plan to undertake a corporate transaction – sale of the business, new investment or merger.
I worked with the directors to prepare a proposal document targeted at relevant investors which led to the successful merger with Swaddles Green Farm early in 2005.