Belfast bakery struggles under weight of debts

23 September, 2009

Millers 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.


My Account

Spotlight

Most read

Social