Published: 6th January 2016
More than a hundred jobs have been lost at a meat supply company based in the Lancashire town of Burnley after it was entered into administration in recent days.
Persistent cash flow problems pushed B Riley & Sons’ business into a perilous financial position and ultimately left the company’s bosses with little choice but to enter into an administration process.
Sadly for the meat supplier’s employees, the news that they were to be made redundant came in the days shortly before Christmas.
Administrators appointed to derive what value they can from the company, whose business was based primarily around an abattoir facility in Burnley, have said that they are looking for buyers in relation to B Riley & Sons’ various assets.
“We are assisting the employees through this difficult time with making claims to the Redundancy Payments Office for their wages and other associated redundancy claims,” said Paul Flint, one of the appointed administrators, in a statement on the matter.
“We are now seeking a buyer for the business and its assets, and would urge any interested parties to contact the joint administrators as soon as possible.”
B Riley & Sons established a significant presence as an employer in the north of England and as a supplier of lamb and beef to wholesale markets across the UK and Europe.
The company extended and renovated its abattoir facility in October 2014, which increased the amount of meat it could produce on a weekly basis, but persistent cash flow problems saw it entered into administration on December 16th 2015.
Its abattoir facility was among the largest independent operations of its kind in the north of England, with supply into the Halal wholesale meat market among the key aspects of its operations.
As well as an abattoir facility, B Riley & Sons’ assets include a farm made up of three different freehold dwellings, around 60 acres of agricultural land and a butcher’s shop all in the same area of Lancashire.
All of the company’s 131 staff members were made redundant shortly after it entered administration. With 78 offices across the UK, you’re never far away from expert and confidential advice.