UK group Pasta Reale has been placed into administration, accountancy firm BDO has said.
Pasta Reale, a manufacturer of fresh and filled pasta, had seen business fall away in recent years, BDO said. Some 169 staff have been made redundant.
“The company experienced a gradual loss of custom over the past year and, as a result, has experienced a deterioration in its working capital position,” BDO business restructuring partner Matthew Tait said.
“Despite the best efforts of the company’s directors and stakeholders in the past months, the directors were left with no option but to place the company into administration. Going forward, we will seek to achieve a sale of the company’s facilities and assets and maximise recoveries for creditors.”