Fri, 13 Sep 2013 | ADMINISTRATION
Peanut processor firm Trigon Snacks, has entered administration after financial difficulties proved insurmountable, leaving 130 jobs hanging in the balance.
Duff & Phelps have come in to Trigon’s head office at Aintree, Liverpool to assess the options for the business, thought to include a sale. It is understood that the business is still trading at present, after entering administration on 10 September.
Duff & Phelps are confident that they will secure a sale for the £30 million turnover company, either as a whole or a portion, with some interested parties thought to have stepped forward already.
Trigon Snacks, which can process 6,500 tonnes of nuts each year, is behind the Big D and Planters peanut brands, sold to peckish pub revellers across the country. It can trace its roots back to the 1970s, and today sells own-brand nuts on the shelves of Morrisons, Waitrose and Sainsburys.
Joint administrator David Whitehouse, said: “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.”
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