Betta Foods purchase looks likely; 39 redundancies announced
Struggling confectionery manufacturer Betta Foods could have new owners in the coming weeks, administrator Cor Cordis has said. The administrator has received numerous expressions of interest to purchase the business but has had to make redundancies to keep the business afloat.
“We have received over 26 expressions of interest since we were appointed in late January,” said Cordis, managing partner Bruno Secatore.
“Most of these business enquiries are from Australian-based entities that are looking to purchase the assets of the Betta Foods business. We are expecting formal offers by the end of this week, and the signs are encouraging that there is a future for Betta Foods.”
Thirty-nine Betta Foods staff were made redundant, but Secatore says: “At this stage, there are no plans for further staff redundancies.” Of the redundancies, 28 were factory staff and 11 were administrative staff.
The company entered voluntary administration on 20 January.
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