More than 1,400 jobs are at risk following the collapse of one of the UK's leading turkey processors.
Receivers have been called in to Derbyshire based poultry giants Brandons after a year of difficult trading. The company is attributing the decline to a recent increase in cheap turkey imports.
The family owned company had also embarked on a period of acquistive expansion in recent years, taking over competitors Moorland Poultry and the turkey divisions of Sun Valley. It had been named in the Sunday Times list of out-performing companies last year and in the past three years its turnover had grown from £20m to £100m. But industry insiders suggested the company's rapid expansion may also have contributed to its difficulties with debts reportedly at £45m.
PricewaterhouseCoopers, the receiver, said it was planning to keep the company open until a buyer could be found.
Administrator Rob Hunt said: "We shall hold urgent talks with suppliers and customers over the course of the next few days to seek their support to allow trading to continue."
Peter Bradnock, chief executive of the British Poultry Council, said: "We would hope for the sake of the industry as a whole that the company can trade out of its situation or that a buyer can be found."
The Farmers Union of Wales has called on the public to support the British turkey industry over the Easter period.
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Receivers have been called in to Derbyshire based poultry giants Brandons after a year of difficult trading. The company is attributing the decline to a recent increase in cheap turkey imports.
The family owned company had also embarked on a period of acquistive expansion in recent years, taking over competitors Moorland Poultry and the turkey divisions of Sun Valley. It had been named in the Sunday Times list of out-performing companies last year and in the past three years its turnover had grown from £20m to £100m. But industry insiders suggested the company's rapid expansion may also have contributed to its difficulties with debts reportedly at £45m.
PricewaterhouseCoopers, the receiver, said it was planning to keep the company open until a buyer could be found.
Administrator Rob Hunt said: "We shall hold urgent talks with suppliers and customers over the course of the next few days to seek their support to allow trading to continue."
Peter Bradnock, chief executive of the British Poultry Council, said: "We would hope for the sake of the industry as a whole that the company can trade out of its situation or that a buyer can be found."
The Farmers Union of Wales has called on the public to support the British turkey industry over the Easter period.
{{MARKET EDGE }}
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