Icelandic company Bakkavör Group has said it will close its UK pasta plant in Scunthorpe by the end of the month. The closure may lead to the loss of 107 jobs, according to local press reports.
The firm reportedly blamed the decision on the increased cost of raw materials and a declining market.
The reports add that Bakkavör completed a 90-day consultation process, but was unable to find an alternative to closure.
The news comes only three weeks after Bakkavör announced it had made two acquisitions: a 45% share in Hong Kong’s leading producer of premium bakery and pastry products, La Rose Noire; and Italpizza, an Italian pizza maker, as reported by Flexnews.