Suffolk-based family flour milling company C Marston & Sons has been bought out of administration by Heygates Limited.
Marston’s flour mill in Icklingham, Bury St Edmunds, has been sold for an undisclosed amount to Heygates. A freehold property owned by related property holding company D and S Marston Limited has been sold to Throop Milling Limited.
The deal, which will allow Marston’s to continue to trade, has secured 16 jobs.
The Marston’s milling business had incurred losses in recent years, according to administrators RSM Restructuring Advisory, and had been unable to make the efficiencies needed to make its core contracts profitable.
RSM added that the business had also struggled to secure wheat at the right price to meet its obligations.
“The sale of the assets and property has allowed the milling activities to continue to trade, and has also secured a number of jobs,” said RSM partner Steven Law.
“The related transactions also provide the best possible outcome for creditors in the circumstances.”