Surrey manufacturer The Cookie Man has called in the administrators.
Administrator ReSolve Partners LLP was appointed – reportedly on Monday 16 January – and around 350 jobs are said to be at risk.
The Esher-based bakery manufacturer, which filed its latest accounts on 18 November 2011, revealed a huge drop in gross profit to £2.4m for the year ended 31 December 2010, from £4.3m for the comparable period in 2009.
This resulted in a loss, after taxation, of £437,591, compared to a profit of just over £300,000 the previous year.
The directors’ report stated the main threats to business were believed to be changing consumer tastes, and “the predominance of lower-value products in the market”.
Please check back for updates on this story.