VBites - Case Update

Former model, entrepreneur and animal rights activist Heather Mills has acquired online plant-based retailer Alternative Stores just seven months after saving her own company out of administration.

James Clark and Howard Smith of Interpath Advisory were appointed as joint administrators of VBites in December 2023 after the company faced numerous challenges including an increase in operating costs associated with the relocation of its operations in 2021, the impact of rising raw material costs and energy prices, and a reduction in demand for vegan products in the wake of the cost-of-living crisis.

Ms Mills, who at the time said she was blind sighted by the decision to call in administrators, ultimately purchased most of VBites’ assets in January 2024 through Vegan Solo Consulting, another company owned by her, for £1 million. Ms Mills also agreed to waive £4.8 million in secured debt owing to Seckloe 206 Limited, yet another one of her companies, as part of the deal. VBites’ staff did not transfer to the purchaser, although Ms Mills claims to have rehired about 40 of the 80 staff since that time.

Now, Ms Mills has purchased online plant-based retailer Alternative Stores, marking her first acquisition since rescuing VBites earlier this year. The store will reportedly stock a variety of plant-based products including VBites items, plant-based dairy products, allergen-free ready meals and ethical treats.

The joint administrators were assisted by Ward Hadaway and BPI Asset Advisory. Their progress report can be found HERE.