Bakery equipment firm fails to rise
A BURNLEY-based company which made processing equipment for the bakery industry has been placed into administration.
Turkington Europe was part of US-based Turkington USA, which had been placed into receivership by its bankers in February.
The European arm then fell liable to for a guaranteed payment to bankers of $11m which it was unable to pay, sparking the appointment of Andrew Haslam and Gerald Krasner of insolvency firm Begbies Traynor as administrators.
They have sinced reviewed the company’s work in progress and retained 14 employees to assist with the completion of two contracts at its base at Billington Road Industrial Estate. All other employees have been made redundant.
The administrators have said they are confident of finding a purchaser for the company’s assets and have instructed Blackburn-based Winterhill Largo to sell the company’s plant and machinery.
