PwC steps in as United Milk goes sour
United Milk, the UK's largest milk processing plant, has slipped into administrative receivership following cash problems.
Roger Marsh, Derek Howell, Stephen Oldfield and Ian Stokoe from PricewaterhouseCoopers were appointed joint administrative receivers yesterday to the company based at Wesbury in Wiltshire.
Directors of United Milk were forced to appoint receivers after it hit cash problems sparked by losses from its newly commissioned plant.
Joint receiver Roger Marsh remained hopeful: ‘We shall be holding urgent talks with suppliers over the course of the next few days and believe that with their support we have the best chance to try and secure a future for the plant.’
United Milk has capacity to produce 2.4 million litres of milk per day, employs 125 people and has an annual turnover of £100m.