The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Food And Beverage Manufacture Of Food Products 10.73 - Manufacture of macaroni, noodles, couscous and similar farinaceous products
169 jobs Number of planned job losses
Announcement Date
27 August 2014
Employment effect (start)
27 August 2014
Foreseen end date
Description
West Sussex based food manufacturer has ceased to trade with the loss of 169 jobs. The administrators, accountancy company BDO, released a statement confirming that the company had entered administration and ceased to trade. The decision for the move was based on a loss of custom for the firm's products over the previous year; contracts had been lost and the company become solely reliant on a deal with one major supermarket. Pasta Reale produced fresh pasta and filled pasta products and had been trading for 35 years.
The administartors confirmed that a buyer was being sought for the company's assets with the intention of maximising recovery for creditors.
Sources
27 August 2014: BBC Website
27 August 2014: Foodmanufacture.co.uk
Citation
Eurofound (2014), Pasta Reale, Bankruptcy in United Kingdom, factsheet number 77483, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77483.
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