Preva Produce in administration

According to reports, Norfolk based potato supplier Preva Produce has been placed in administration.

The company is now up for sale with 20 job losses anticipated due to significant cash flow pressures and difficult trading conditions. Creditor interests have been safeguarded and the possibility of selling parts of the business is being explored, according to joint administrators Matt Howard and Stuart Morton, of accountancy firm Price Bailey.

Operations at the company’s 29,000 sq ft packhouse, in Snetterton were suspended in November, and a sale has been agreed subject to contract. “The management team are working with Price Bailey to review the company’s position and to formulate a strategy. Unfortunately, it has been necessary to make 20 redundancies, leaving 11 staff remaining,” said Mike Howard.

The post Preva Produce in administration appeared first on Hort News.