UK-based party food manufacturer Frank Dale Foods has called a creditors’ meeting for tomorrow (28 February) to appoint a liquidator in a bid to find a new owner and save jobs.
The company, which has appointed business rescue and insolvency specialists McTear Williams & Wood to act on its behalf, said in a statement the jobs of 57 staff employed at its factory in Bunwell in Norfolk “are now at risk”.
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Frank Dale Foods, established in 1994, said it had “traded successfully for many years but experienced a downturn in 2016 caused by production difficulties servicing sales after a period of significant growth”. “The resulting trading losses put strain on cash flow and efforts to refinance proved unsuccessful,” the company said.
Nigel Cushion, Frank Dale Foods’ chairman, said: “Sadly time has run out for the company but we are hopeful that a buyer can be found for the business and assets so jobs can be saved and that is the board’s main focus now.”
The company said it will continue to trade up to liquidation in the hope that a buyer can be found for the business and assets as a going concern.
Frank Dale Foods has said it is “an upmarket manufacturer of savoury and dessert canapes, quiches and tartlets”.
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By GlobalData
