Lees Foods has reached a settlement with the former directors and shareholders of Patisserie UK, which will see the Coatbridge-based firm receive approximately £225,000.In June this year Lees announced it would be taking legal action against the people from whom it bought Patisserie UK – a specialist bakery business that went into administration in March 2009 under Lees’ ownership. Lees, which owns the Lees of Scotland and Waverley Bakery businesses, purchased Patisserie UK’s holding company Rock Cake in December 2007 from its directors, who had set up the company in a management buy-out from Enterprise Foods in February 2006. However, anticipated sales did not materialise as forecast, leading to a dispute between Lees and Patisserie UK’s former directors and shareholders.Patisserie UK was later placed in administration after its major customer Costa Coffee, which accounted for 75% of its sales, switched to another supplier.Following a “constructive process of discussion” a settlement was reached, with no admission of liability on either side, announced Lees. The £225,000 sum will be made up of £125,000 in cash and all of the 65,000 Lees ordinary shares issued to the shareholders of Patisserie UK as part of the consideration for the acquisition. The shares have a market value of approximately £100,000.
Just in time for the New Years runs that are kicking off around the country, Ryan Stasik of Umphrey’s McGee and his team (consisting of Jody Litvack, Adam Feiner, and Matt and Danielle Hungerford) have officially launched their own fantasy setlist app. The app, Jamble, combines the mechanics of fantasy football with the shows of some of our favorite artists and is sure to create a perfect storm for passionate fans to celebrate jam bands, show off their band knowledge, and maybe indulge in a little pre-show competitive smack talk.Currently allowing players to craft their setlists for the upcoming NYE runs for Phish, Umphrey’s McGee, the String Cheese Incident, the Disco Biscuits, and STS9, the app lets players select their song choices for a given show while being provided stats about previous setlists and song probabilities. Once drafted, players can compete in private leagues against friends or in open leagues against other users, with users being ranked on leaderboards as shows go live.You can check out the app for yourself here, and start meticulously crafting your own fantasy setlists for the next few nights after creating a profile of your own.