PricewaterhouseCoopers has pledged to do all it can to ensure milk and cheese supplies continue after Dairy Farmers of Britain went into receivership this week.
PwC, which was announced as receiver and manager for the £562m turnover company on Wednesday, takes control of a business with 2,200 employees, 1,800 farmer members and a 10% share of UK milk production.
Difficult trading conditions in the liquid business had been at the heart of the company's troubles and DFB had been unable to identify a way forward and pay an economic milk price, said joint receiver and PWC partner Stephen Oldfield.
"My team and I will be focusing all our initial efforts on working with the DFB key suppliers and customers to keep the daily collection and supply of milk flowing," he said, adding that PwC hoped to be able to collect and distribute the vast majority of the co-operative's milk.
Oldfield said it would try to find buyers for the group's hard cheese and liquid businesses, and secure as many jobs as possible. DFB brands include Cadog, Capricorn, 1st Grade and Somerset Brie cheeses and Definitely Yorkshire fresh milk. It supplies both retailers and the school milk scheme.
The company has suffered a number of major setbacks over the past few months. In October it cancelled a £1.75m half-yearly payment on members' accounts, fuelling speculation the business was in trouble. The closure of two dairies in winter and the loss of a major contract to supply The Co-operative Group added to its woes.
"What is most important is that the supply chain is maintained, that jobs are saved, and that there is a home for members' milk," said DFB chairman John Grantchester.
Dairy UK director general Jim Begg said he was "desperately saddened" by the news. "We fully support the receiver's efforts to keep DFB members' milk flowing into the supply chain, retain employees and ensure its products stay on the shelves."
PwC, which was announced as receiver and manager for the £562m turnover company on Wednesday, takes control of a business with 2,200 employees, 1,800 farmer members and a 10% share of UK milk production.
Difficult trading conditions in the liquid business had been at the heart of the company's troubles and DFB had been unable to identify a way forward and pay an economic milk price, said joint receiver and PWC partner Stephen Oldfield.
"My team and I will be focusing all our initial efforts on working with the DFB key suppliers and customers to keep the daily collection and supply of milk flowing," he said, adding that PwC hoped to be able to collect and distribute the vast majority of the co-operative's milk.
Oldfield said it would try to find buyers for the group's hard cheese and liquid businesses, and secure as many jobs as possible. DFB brands include Cadog, Capricorn, 1st Grade and Somerset Brie cheeses and Definitely Yorkshire fresh milk. It supplies both retailers and the school milk scheme.
The company has suffered a number of major setbacks over the past few months. In October it cancelled a £1.75m half-yearly payment on members' accounts, fuelling speculation the business was in trouble. The closure of two dairies in winter and the loss of a major contract to supply The Co-operative Group added to its woes.
"What is most important is that the supply chain is maintained, that jobs are saved, and that there is a home for members' milk," said DFB chairman John Grantchester.
Dairy UK director general Jim Begg said he was "desperately saddened" by the news. "We fully support the receiver's efforts to keep DFB members' milk flowing into the supply chain, retain employees and ensure its products stay on the shelves."
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