Tue, 21 Aug 2012 | ADMINISTRATION
Around 150 jobs have been saved after a major UK halal meat supplier has been sold out of administration.
Based in Preston, Gafoor Poultry Products fell into administration at the end of July when reduced sales and bad debts caused various problems. Irwin Insolvency was appointed to handle the administration.
The administrators have now overseen a sale of the companies to Gafoor Pure Halal, a firm registered to an address in Leicester.
A meeting of creditors is due to take place on 24 August but there should be no interruption of supply.
Gafoor Poultry Products is one of the oldest halal meat suppliers in the UK, founded in 1964 by three brothers who wanted to supply their local area. It has since grown substantially and in the year to November 2010 the company posted pre-tax profits of £1.48 million on a turnover of £52.4 million.
It has also expanded its geographical scope and now owns and works with independent farms within a 50-mile radius of its plant. The group also appears to be expecting further growth as in December 2010 it invested £4 million in upgrading the machinery at its factory, while further capital investment was made in order to improve the firm's environmental commitments.
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