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Park Cakes

Park Cakes, the UK own-label cake and dessert supplier, has been acquired in a management buy-out from private-equity firm Vision Capital.

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The UK supplier of retailer own brand cakes and desserts, Park Cakes, has said it plans to announce new "growth and investment opportunities" after securing a multi-million-pound package of funding from Yorkshire Bank.

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2 Sisters Food Group has confirmed its Avana Bakeries plant in Newport will close after consultation with staff failed to find ways of keeping the site open.

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At least 650 jobs at 2 Sisters Food Group's Avana bakery site in Newport are at risk after the UK firm lost a contract with Marks and Spencer to competitor Park Cakes.

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Workers at Park Cakes have voted in favour of industrial action after the UK cakes and desserts firm changed contracts in the wake of new laws covering agency workers.

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Workers at UK cakes and desserts firm Park Cakes could take industrial action next month over changes to employment contracts.