Thomas Tucker, a UK-based private-label popcorn maker, has gone into administration amid “significant losses” caused by a product recall during the summer.
Accountancy firm Mazars was appointed joint administrators for the company, based in Nottinghamshire in the English Midlands, on Monday (23 September) and also RJ Foods, the family bakery business Thomas Tucker acquired in 2015.
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Thomas Tucker was founded in 1988 and supplies private-label popcorn to “high-profile names” across the retail, leisure and hospitality channels, and is also a major supplier to the cinema sector and licensed partners. It also produces popcorn, confectionery and bakery products under its own brands and those of RJ Foods, including Tommy Tucker, Thomas Tucker, Family Bakery and Krax.
In August, the company was forced to recall some popcorn brands because they may have contained milk, which was not specified on the labels and therefore could cause issues for consumers allergic to dairy products. The recall came amid an investigation by the UK’s Food Standards Agency.
The BBC reported that 64 of the 116 workforce have lost their jobs.
Adam Harris, one of the appointed administrators at Mazars, said in a statement: “The business has had a difficult year and had undergone an operational restructure and further investment by its owners. Whilst the underlying cause was disputed, the business agreed a voluntary product recall following an ongoing investigation with the Food Standards Agency. The recall has resulted in significant losses, pressure on working capital and, following a review, there were insufficient further funds available to bridge the shortfall identified.
“Sadly, the administrators have, as a result of the financial position, made a number of the staff redundant. Nevertheless, we are hopeful a sale will be achieved in light of the business’s reputation for quality and its dedicated workforce. A going concern sale would secure the best outcome for the business’s suppliers and customers and secure a future for the remaining employees.”
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By GlobalData
