Belfast bakery struggles under weight of debts

first_imgMillers Traditional Bakery is fighting to stay in business and protect 60 jobs after running up big debts.The Belfast family-run baker hopes to reach a Company Voluntary Agreement (CVA) with creditors to avoid liquidation after one of those owed money – Latimer Electrical Services Limited – brought a wind-up petition.A hearing at the High Court last week was adjourned to 8 October after lawyers for Millers outlined the efforts being made by the company.Less than two years ago, the company moved from Newtownabbey to a new 16,000 sq ft production facility, installed equipment to improve baking capacity and funded a marketing campaign to position itself as a specialist food producer.In a statement, MD William Millar said: “The sudden downturn in the economy and its impact on the competitive grocery trade has presented us with major challenges in meeting the debt of expansion in a depressed market.- To read the full story, check out the next issue of British Baker, out 25 September.last_img

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