Food giant Premier Foods said that the site had become unprofitable and was not essential to the company's future.
Before that, Premier Foods had enjoyed three successful years thanks to increased consumption during the pandemic, rewarding shareholders with a 20% increase in dividend payouts in 2022.
"These results illustrate the continuing appeal of our portfolio of market-leading brands in such a challenging environment and demonstrate the strength and resilience of our branded growth model," said Alex Whitehouse, chief executive of Premier Foods."Our major Grocery brands produced a particularly good set of results for us, continuing to grow faster than the market,” he added. “Across the country, people got cooking again this Christmas.
Premier Foods employs over 4,000 people operating from 15 sites across the country, supplying retailers and wholesale with brands like Bisto, Ambrosia, Batchelors, Loyd Grossman, Oxo and Sharwood's. Mr Whitehouse said the company had been dealing with higher costs due to inflation, which continued to persist.
"Input cost inflation remains at elevated levels, and we continue to take action to offset this inflation through a range of measures,” he said. “With strong trading momentum as we enter our final quarter of the year, and with more brand investment and new product launches to come, we are well on track to deliver on expectations for the full year."
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