Zest Food, the operator of Tossed and Vital Ingredient, has left liabilities of £9.3m to its investor after going into administration, a progress report shows.

The liabilities are owed to Latimer Investments Limited, a financial services company registered off-shore in St Helier, Jersey, which trades as Praxisifm Trust Limited.

The investor, which is also linked to Zest Food directors Neil Sebba and Vincent Mckevitt’s Gemini Restaurants, has a fixed and floating charge.

The second biggest creditor is HMRC, which his owed £746,895.

Administrator Quantuma estimates £142,332 will be available for preferential creditors.

Zest Food is owned by Tossed Limited, which is ultimately owned by Tossed founder Vincent Mckevitt.

Former Welcome Break and Sticks ‘n’ Sushi boss Rod Mckie is a non-executive director.

Zest Food has filed a notice of intention to appoint administrators in June, having already told its workforce they would all be made redundant.

The 20-strong operator appointed Simon Bonney and Micheal Kiely of Quantuma as joint administrators.

The business had trialled four trial store openings during June, but these were subsequently closed after only running at 5% of normal revenues.

MD Neil Sebba said: “Unfortunately, we simply do not have a market in which to operate at the moment, and without a viable solution which had the support of all our creditor groups, the directors regrettably considered that an administration was unavoidable.”

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