Tue, 05 Jun 2018 | ADMINISTRATION
Alsager-based pie and sausage roll manufacturer Freshpack Ltd has appointed administrators after more than six decades in the industry.
According to the family-owned firm, which is based in the Excalibur Industrial Estate, the decision follows a difficult period of trading but has still left the company in an attractive position for potential buyers.
Matt Dunham, of Dunham Dead Advisory, has been appointed administrator for the company, and has suggested that the sale of the business would present an ideal opportunity for any other manufacturer looking to expand their operations.
"Freshpack operates a fully-equipped modern factory with a long-standing, skilled workforce and benefits from an established customer network," Mr Dunham said. "This provides a great opportunity for another manufacturer to extend their production facilities, develop new product lines and expand into new areas of the market."
According to the administrators, the company is now in negotiation with suppliers and customers to ensure that all its operations continue to run smoothly while the administration and sales process goes ahead.
Additionally, Sara Williams, chief executive at the Staffordshire Chambers of Commerce, has stated that the all affected staff will be provided with support.
She said: "It is always a sad day when any local business goes into administration, especially one which has been in business for over 50 years."
Founded in 1952, Freshpack Ltd supplied frozen pastry products, snacks and ready meals to frozen food firms and discount shops around the country. The technology used to conserve and package the food includes some of the latest packing technology, including fully-automated puff pastry production.
Specialises in the provision of a range of premium pastries, hot and cold snacks, speciality cakes and freshly baked breads for major supermarkets and local businesses across the North East.
LEASEHOLD
Well-established business operating for over 83 years. All meat is sourced from local farms around the North West.
LEASEHOLD
Currently operating as a profitable Indian Restaurant on a prime location in the heart of Brick Lane in East London. Located in the centre of the largest footfall in the area.
LEASEHOLD
09
|
Apr
|
Topshop flagship store up for sale | COMMERCIAL PROPERTY
Topshop's flagship Oxford Street store in London is dra...
09
|
Apr
|
Gestamp’s former Washington warehouse hits the market in £6.5m auction | COMMERCIAL PROPERTY
The former Washington base of international car parts manufa...
08
|
Apr
|
Decorating contractor targets acquisitions after MBO | MBO/MBI
Scottish commercial decorating contractor Bell Group has com...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources