Bacon producer Turners of Bond Street sold out of liquidation, securing jobs

West Midlands bacon producer Turners of Bond Street has been sold out of liquidation, saving 13 jobs. 

The third-generation family-owned company, based in West Bromwich, which has been operating since the 1930s, sells to a wide range of independent companies, including hotels, restaurants, caterers and small supermarkets.

All of the assets of the company have been sold to local entrepreneurs Paul Atkins and Paul Moore. The company will continue to trade as Turners of Bond Street and Peter Turner, who was previously in the business for 40 years, has been appointed non-executive director by the new owners. Former owner Rob Sessions has exited the business.

Moore said he hoped the business could expand into new markets, such as artisan.

“We’re delighted to have completed this deal and look forward to growing the business. We believe there are good opportunities to expand further in the artisan market and build on Turners of Bond Street’s strong reputation and enable the business to thrive for many years to come.”

The company had appointed liquidators from insolvency and restructuring firm CVR Global on 25 November 2016 after it ran into financial difficulty due to rising costs of importing raw materials after the UK’s referendum decision.

Craig Povey and Richard Toone, partners at CVR Global, were appointed joint liquidators

Povey said: “The business was struggling, partly because of Brexit as it saw an increase of 20% in import pricing, and we were called in to liquidate the company. We’re pleased to have been able to move quickly to find new owners and to secure a sale of the assets of the company and save all 13 jobs.  

“Paul Atkins and Paul Moore will be making further investment into the company to take the business forward, with the aid of Peter Turner who returns to the business as non-executive director.”

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