Deathwatch - Findus and Land of Leather go into administration
The flags have been lowered to half-mast at Bitterwallet, as we contemplate saying goodbye to our fourth favourite childhood foodstuff. Newcastle Productions, who produce products under the Findus brand - they of the now legendary crispy pancake - have called in the administrators. According to union chiefs, the company had money wrapped up in Icelandic banks, who are forcing the administration. The firm employs 420 staff in Newcastle.
Meanwhile news agency Reuters is reporting that suite manufacturer Land of Leather has called in Deloitte (who are getting an incredible amount of work out of this financial crisis, don't you think?) to sell the business as a going concern; shares in the company were suspended this morning. 106 stores and 800 staff are at risk as this new front opens up in the continued demise of UK businesses; there are several similarly sized sofa retailers that have struggled to continue trading in recent years.
A further 875 jobs are at risk at distribution company Wincanton which is threatening to close two depots is Gloucester and Salford, but it's not all doom and gloom: Morrisons is pledging to create 5,000 jobs across its UK supermarkets in the next 12 months, after predicting a 12 per cent rise in sales over the Christmas period.
TOPICS: High Street News