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.’

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

6m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

6m Emma Smith, Managing Editor