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.