EMCC European Monitoring Centre on Change

Paramount Foods

Company/Organisation:
Paramount Foods

Geographic Location

Country: United Kingdom
Region: Flintshire and Wrexham; East Wales; Wales

Company

Sector: Manufacturing
Manufacture of food products, beverages and tobacco products
10 - Manufacture of food products
Number Employed: 450

Employment Effects

Announcement Date: 09-10-2012
Planned Job Reductions min: 450
Planned Job Reductions max: 450
Type of Restructuring: Bankruptcy
Employment Effect Start: 09-10-2012
Foreseen End Date: 30-11-2012

Additional Information

Paramount Foods has gone into administration and will make 118 staff redundant following the loss of a major contract with a supermarket chain.

Administrators are looking for a buyer while the redundancies were made in order to sustain the business in the short term. 76 jobs will go in Deeside and another 42 in Salford.

UPDATE 23.11.2012: The administrators were not able to find a buyer for the business and the company will cease production at Deeside on 30 November making a total of 450 people redundant. Production at Salford will stop on 28 November.