UK food manufacturer 2 Sisters Food Group has set out plans to close a “heavily loss-making” plant in northern England.
The company is looking to shut its Pennine Foods ready-meals factory in Sheffield.
In a statement, 2 Sisters said the company had “regrettably concluded” the facility was “not sustainable for the long term”.
It added: “The site continues to be heavily loss-making, and despite major investment in recent years, we are unable to reverse the situation.”
2 Sisters said it was “consulting with colleagues on our proposals”, which include the “potential” closure of the site. “We are committed to exploring the full range of options available to us before any final decisions are made,” the company said.
See Also:
The business did not comment on the number of jobs that could be affected by a closure but reports in the UK say around 600 positions could be at risk.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIn July, 2 Sisters confirmed it would shut a poultry-processing facility in the east of England, affecting more than 400 jobs.
In recent months, the group has made moves to offload assets to shore up the company’s balance sheet and reduce debt.
In March, 2 Sisters completed the sale of its Irish seafood business Donegal Catch to a consortium of investors headed by ex-Largo Foods chief Maurice Hickey.
Last November, 2 Sisters sold a sandwich business to local peer Samworth Brothers. Four months earlier, the company sold its red-meat assets to Ireland-based Kepak Group.
