PwC gets to clean up fowl mess
Receivers from PricewaterhouseCoopers have take charge at listed Turkey supplier Brandons, and now have five million Christmas birds under their wings.
Rob Hunt, Stephen Oldfield, Derek Howell and Roger Marsh from PwC were appointed administrative receivers today.
The company is based in Scropton, Derbyshire, employs 1,400 people and last year had annual turnover of approximately £100m.
Rob Hunt said Brandons had a strong reputation and an excellent customer base.
Explaining the problems at Brandons, he said: ‘The company has suffered in the last 12 months from over supply in the market caused by a high level of imports with a consequent deterioration in prices.’
The receivers will be holding ‘urgent talks with suppliers and customers over the course of the next few days to seek their support to allow trading to continue.
‘We are confident that with this support that we can continue to trade whilst a purchaser is found,’ Hunt said.