A FISHY TALE – Appointed on behalf of food manufacturer to quantify loss of profits claim
We were instructed on behalf of a food manufacturer who had suffered a disruption to their business due to a fire destroying their premises. As a result, the manufacturer was unable to supply a number of its customers for a prolonged period of time and had to source their fish based products from overseas.
The company had undergone a period of expansion and had launched a new product range which had been trialled by a number of the major supermarkets. The feedback had been good and orders were about to commence, when the fire struck.
We quantified the claim at around £2 million. Experts were appointed by the Insurers and quantified the claim at £26,000! Following a meeting of experts and a subsequent meeting of lawyers, insurers, the manufacturer and experts; a settlement was reached for a seven figure sum.