ONE of Wales’ leading food supply companies has gone into administration with the loss of nearly 230 jobs.
Abergavenny-based Tillery Valley Foods has blamed the move on inflationary pressures with spiralling food and energy costs impacting cashflows. It said despite increasing its prices the business was no longer able to trade solvently. A potential sale of the business was explored, but didn’t materialise.
Tim Bateson and Will Wright from Interpath Advisory have been appointed joint administrators resulting in nearly 230 staff being made redundant with immediate effect.
The business, with annual sales of more than £20m, provides meals to the local authorities, schools and 30 NHS Trusts across England. The administrators have retained 24 employees to assist with an orderly wind-down of the business.
Mr Bateson, director at Interpath Advisory and joint administrator, said: “This is a tremendously sad day for the Company’s dedicated employees, a number of whom have worked for the Company for over three decades, as well as for the wider community in Abertillery.
“Our immediate priority will be to provide support to all those who have been made redundant, including supporting them with the information required to submit claims to the Redundancy Payments Office, and we are also aiming to host workshops in conjunction with local employment agencies and employers.
“Over the past few months, the directors have worked tirelessly to safeguard the future of the business, including undertaking a process to seek new investment and/or owners. They have also been in regular dialogue with key stakeholders, including local MPs, Welsh Government and NHS England, keeping all informed.”
Prior to the administration the business was one of the biggest private sector employers in Abergavenny.
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