UK: M&S pulls plug on 2 Sisters Avana contract, 650 jobs at risk
2 Sisters has lost out on renewal of the M&S contract
After a 77-year relationship with the bakery, M&S pulling the plug on the business means the site risks closure, a spokesperson told just-food in a statement today (10 Februrary).
While the spokesperson could not disclose the value of the contract, he confirmed the contract represented 85% of Avana's production.
"Clearly this is a huge setback to our cakes business and our operations in Wales, but we are determined to work hard to reverse the situation. As a matter of urgency, we are now making every effort to rebuild the business by seeking alternative customers and opportunities which will minimise the impact of this contract loss.
"Jobs are at risk," he told just-food. "However, this is just the start of a consultation - we're going to try to do everything we can to salvage the situation. We remain hopeful we can retain our business in Newport."
Marks and Spencer Group plc - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and serv...
Canadean's "Marks and Spencer Group plc : Retail - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a company...
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
The report provides a review and understanding of mergers and acquisitions (M&As), capital-raising, partnering deals, and agreements entered into by retail companies during August 2012....
- On the money: Hormel still looking for M&A
- BRICs and beyond: Fonterra, Beingmate partnership
- Consuming issues: The hunger-obesity paradox
- On the money: Mengniu hones in on "star" brands
- just-food interview: Agropur CEO Robert Coallier
- Fonterra, Beingmate launch infant formula JV
- Mondelez eyes snacks categories in India
- Parmalat nears Lacteos Brasil acquisition
- UK firm Pasta Reale enters administration
- Italy yoghurt woes lead to Emmi profit warning