Administrators have been appointed to Tillery Valley Foods Limited, an Abertillery-based supplier that employs 250 people. Most of these employees have been made redundant, with only a small group retained to help with an "orderly wind-down" of the business.
Tim Bateson and Will Wright from Interpath Advisory were appointed joint administrators to the company on May 17, 2023. This follows several months in which the company's directors tried to solve cashflow problems driven by inflation in food and energy prices.
A statement from Interpath Advisory reads: "Over the past 12 months, the company has experienced significant inflation across its fixed cost base, driven principally by increases in food and energy prices, which in turn has had a detrimental impact on cashflow. Consequently, the directors worked with their advisors and key stakeholders to find a solution, including marketing the business for sale and agreeing increased prices with customers, but unfortunately, no solvent solution could be found.
