BusinessBusiness RecoveryNew proposal tabled to save United Milk

New proposal tabled to save United Milk

Administrative receivers from PricewaterhouseCoopers say they will be concentrating on a new proposal to save the struggling milk processing plant.

Link: PwC steps in as United Milk goes sour

United Milk, which operates the UK’s largest processing plant based at Westbury, went into receivership earlier this month because of cash problems.

Derek Howell, joint administrative receiver, said today: ‘Negotiations need to continue into next week regarding the future of the plant at Westbury. In that time we will be concentrating on a new proposal that was tabled in the last 24 hours during our discussions with the milk co-operatives.

Howell said the administrative were ‘grateful to the farmers for their support since last week’s meeting which has enabled us to continue trading for the last seven days’.

‘With the financial support of the co-operatives, we have now committed to farmers that we will continue to take milk from them at an improved price from Saturday 30 August 2003. We have only been able to make this proposal on the basis that all our direct milk suppliers stay with us during this difficult period.

‘With their continued support, we hope we can conclude negotiations to try to secure the future of the plant and avoid its closure.’

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