Inter Link Foods has received a blow after its prospective finance director decided against taking the position.

The ailing company, which is in takeover talks with Irish food group McCambridge, said today (9 May) that Brendan Hynes had formally turned down the job offer.

Hynes first put back his decision to join the UK-based bakery group last month after it emerged that his current employer, drinks firm Nichols, was in talks over a possible sale.

"The board of Inter Link Foods is already seeking a suitable replacement and is hopeful of making an appointment soon," Inter Link said. "Meanwhile the interim financial management team will continue to manage the financial function."

McCambridge, which owns just over 9% of Inter Link, made the unsolicited approach for Inter Link last week.

On 1 May, Inter Link appointed former Premier Foods executive Ian Croxford as its chief executive.