Thursday, June 20, 2024

Over 200 jobs lost as Holbeach Hurn factory closes

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A Holbeach Hurn factory has closed with the loss of over 200 jobs.

AH Worth said it tried to find a buyer for its potato packing arm but, after nobody came forward, it ceased trading yesterday (Monday, June 10).
Administrators were called in for QV Realisations on Monday after AH Worth renamed the company the same day and incorporated everything to do with the company closing
A statement released by administrators Paul Meadows and Matt Cowlishaw of Teneo Financial Advisory Limited said that the company had suffered ‘significant losses in last two years’ and put it down to ‘the combination of volatile potato prices and increased operating costs that were not fully recovered in its selling prices.’
Mr Meadows said: “Regrettably, the closure of the company has led to circa 200 redundancies, with a skeleton team retained to support the administrators in the wind down of operations.
“Teneo’s specialist employee advisory team will work closely with the governments Redundancy Payments Service, Job Centre Plus and any local employers who are advertising vacancies in order to provide support to all those made redundant.”
The release from the administrators states: “The company is a member of the AH Worth & Company group of companies and the group had provided considerable support over recent years.
“All other companies in the group are profitable with strong balance sheets, and continue to trade as normal.”

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