UK nut supplier Trigon Snacks has fallen into administration, putting around 130 jobs at risk.
Trigon, the manufacturer of the Big D and Planters peanut brands, was placed into the hands of David Whitehouse and Steven Muncaster of global financial advisory and investment banking firm Duff & Phelps earlier this week.
Go deeper with GlobalData
The company, which turns over GBP30m (US$47.6m) is one of the key importers and processors of nuts in the UK and supplies to some of the biggest UK supermarkets and wholesalers.
“The business model has changed over recent months and whilst better margins were achieved by sourcing product directly from growers, reduced credit terms and delays in seasonal customer orders led to a significant short term cash requirement which ultimately could not be bridged,” said Whitehouse.
As a consequence of the company’s insolvency, the administrators said they are “reviewing” its financial position whilst “urgent discussions” are being held with key customers and parties who may be interested in acquiring some, or all of the business.
See Also:
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 GlobalData
