Thursday, March 28, 2024

Administrators appointed to Tillery Valley Foods Limited

Tillery Valley Foods Limited, the producer and supplier of nutritionally balanced meals to the healthcare, education and local authority sectors, including to 30 NHS Trusts across England, has entered administration.

The company, founded in 1984 and based in Abertillery, South Wales, employs approximately 250 people. 

Over the past 12 months, the company has experienced significant inflation across its fixed cost base, driven principally by increases in food and energy prices, which in turn has had a detrimental impact on cashflow.

Consequently, the directors worked with their advisors and key stakeholders to find a solution, including marketing the business for sale and agreeing increased prices with customers, but unfortunately, no solvent solution could be found.

Tim Bateson and Will Wright from Interpath Advisory were appointed joint administrators to Tillery Valley Foods Limited on 17 May 2023.

Following their appointment, operations at the company’s base in Abertillery ceased and the majority of the company’s workforce have been made redundant. The administrators have retained 24 employees to assist them as they undertake an orderly wind-down of the business.

Tim Bateson, director at Interpath Advisory and joint administrator, said: “This is a tremendously sad day for the company’s dedicated employees, a number of whom have worked for the company for over three decades, as well as for the wider community in Abertillery.

“Our immediate priority will be to provide support to all those who have been made redundant, including supporting them with the information required to submit claims to the Redundancy Payments Office, and we are also aiming to host workshops in conjunction with local employment agencies and employers.”

Tim Bateson continued: “Over the past few months, the directors have worked tirelessly to safeguard the future of the business, including undertaking a process to seek new investment and/or owners. They have also been in regular dialogue with key stakeholders, including local MPs, Welsh Government and NHS England, keeping all informed.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.
















Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close