Administrators seek buyer for Westler
Westler Foods a firm known for its branded hotdogs has been placed into administration by its manage-ment after it was unable to fulfil the company's pension obligations.
The Malton-based business in North Yorkshire is understood to still be profitable at a trading level and employed 200 people.
Howard Smith and Mark Firmin of KPMG's Restructuring practice were appointed as joint administrators on Friday 10 December.
An evaluation in early 2009 found a funding gap of more than £15m, which the company has since sought to address. However, KPMG said that despite attempts involving internal and external investment, this has not proved possible.
Howard Smith, joint administrator and KPMG Restructuring Associate Partner, said: "This is an uncommon and unfortunate situation of a well-run and profitable business being compelled to enter insolvency specifically because of the scale of its pension deficit. The company has a number of interesting contracts, so we are trading the business as a going concern while seeking a buyer."
The administrators have made redundant nine staff, who are not directly involved in production.
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