Duff & Phelps make 118 redundant at Paramount Foods
Administrators make a quarter of the workforce redundant at frozen food manufacturer
DUFF & PHELPS ADMINISTRATORS have made a quarter of the workforce redundant at frozen food manufacturer Paramount Foods.
David Whitehouse (pictured) and Sarah Bell, partners at Duff & Phelps, were appointed joint administrators and announced the redundancies on appointment.
Paramount Foods employed 450 people but the administrators made 118 of them redundant on appointment, although they hope to continue to trade the business while they seek a buyer.
Whitehouse said: “Regrettably, a number of redundancies were required in order to provide the opportunity to continue to trade the business in the short term.”
The business is one of the UK’s largest manufacturers of frozen and chilled pizzas and employed 450 staff at its two sites in Salford in Manchester and Deeside in North Wales.