UK-based cheese manufacturer GRH Food Company has gone into administration, putting more than 80 workers out of a job.
KPMG confirmed in a statement that it had been appointed as administrator on Monday (24 June) led by the accountancy firm’s Paul Dumbell and David Costley-Wood.
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By GlobalDataFamily-owned GRH Food is based in Gwynedd, Wales, and supplies cheese products to retailers, wholesalers and foodservice outlets in the UK and overseas, according to the statement.
The business was founded in 1989 and employed 86 people at its site on Snowdonia Business Park, but all staff have now been made redundant, although four will remain while the administration process runs its course.
KPMG said GRH Food had suffered from cashflow issues whereby the company was unable to meet its financial obligations.
Dumbell said: “GRH was an ambitious business that had grown in recent years, but the squeeze of increased costs and liabilities put too much pressure on its finances. Despite efforts to market the business for sale, a buyer could not be found, which led to the administration.
“Although the facility will not trade during the administration period, we continue to explore all options for this multi-million-pound production facility.”
