Threat to 420 frozen food jobs at Findus firm

Around 420 jobs were under threat at Findus frozen food firm Newcastle Productions today after the firm went into administration.

The company - licensed to manufacture and distribute Findus food in the UK - called in administrators Zolfo Cooper on Friday after suffering cashflow problems.

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It employs 420 staff at its base in Longbenton, Newcastle, and produces a range of frozen food products under the Findus brand, including crispy pancakes, ready meals, "Findus the Fisherman" pies, bakes and fish fingers.

Zolfo Cooper is hoping to secure a buyer for the business as a going concern, but the factory has been closed since Tuesday due to a fire.

Nick Cropper, joint administrator and partner at Zolfo Cooper, said: "Newcastle Productions is a well-established local business and produces a range of high-quality frozen food products in the UK, under the Findus brand - a popular and long-established food label.

"We remain confident that there will be interest from potential buyers to secure the future of this business and will need the support of all parties to achieve this."

Newcastle Productions is the sole producer of and distributor of Findus foods in the UK.

Its UK Findus licence is ultimately owned by private equity firm Lion Capital, which last September bought Findus and Young's seafood group Foodvest - the group which licenses the brand throughout Europe.

None of the trading entities outside of the UK have filed for administration and Lion Capital is reportedly planning to sell the UK licence to another food manufacturer.

Chris Preston, an official with the GMB union, said: "If these jobs are lost it would be a devastating blow to north Tyneside.

"This is a long-established factory with an excellent product range and we believe that the administration is being pushed by the Icelandic bank."