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Industry News Articles

Paramount Foods enters administration putting 450 jobs as risk

9 October 2012

Approx 450 jobs are at risk as one of the biggest manufacturers of pizzas in the UK goes into administration.

Paramount Foods, a business that stemmed from Dutch-based food manufacturer Vion, has gone into administration after losing a contract with Morrisons, believed to have accounted for around 40% of its turnover.

The food company, which has 450 employees, creates pizza bases at a manufacturing site in Salford, which are then finished at a additional location in Deeside.

David Whitehouse and Sarah Bell, of the Manchester office of firm Duff and Phelps have been appointed administrators to find a suitable buyer for part or the whole of the company.

In a statement, Mr Whitehouse said: "Whilst the company has incurred trading losses historically, the recent loss of a major customer has left the company without any prospect of returning to profitability in line with a turnaround plan embarked upon in July this year."

Borer's FUSION Time Recording System

With a high number of employees on payroll, using Borer's FUSION Time Recording System will help reduce management involvement and the administrative effort required to manage a time management scheme.

It is labour demanding to manage and maintain a centrally administered or paper based flexitime system. Invariably, queries arise in relation to flexi balances and the process can become a very complicated one, particularly for the HR department.

Implementing an automated time and attendance system makes things very easy for both employees and their managers alike.

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