Lincolnshire abattoir goes into administration
Lincolnshire Prime Meat Company has gone into administration due to financial difficulties that led to a £1.4m debt. Insolvency practitioners SFP has been appointed administrator and is currently trying to sell the business.
The Skegness-based plant employed 26 people and had an annual turnover of £12m, but encountered cash-flow issues that led to the current situation.
SFP group partner Simon Plant said: “Despite working with a number of significant customers and having a substantial turnover, Lincolnshire Prime Meat company was unable to continue trading after under-financing led to cash-flow issues.
“We are currently in discussions with various interested parties for a sale of the business and assets.”