Could the Cider Tap go Dry at a Tiverton Brewery?
By The_Gazette | Thursday, October 22, 2009, 16:16
A WELL-ESTABLISHED Tiverton-based firm has gone into administration.
Devon Cider Company which is based on the former Whitbread brewery site made the shock announcement today (October 22).
Vantis Business Recovery Services has been appointed as administrator for the cidermaker, which produces own-label ciders and brands including Old Moors, Three Hammers and Ice White.
The administrator is seeking to sell it as a going concern and no redundancies have been made.
Geoff Rowley, client partner at Vantis, said: “We are continuing to trade with all of Devon Cider’s customers and have the on-going support of all the multiples with whom Devon trades.
“Interest in the business has been strong and we hope to be able to proceed with a sale on a going concern basis.”
Devon Cider employs 50 people and turnover is around £20 million.
The company was bought out by its management team shortly after going into voluntary administration two years ago and was restructured as a group of three companies – Devon Cider, Devon Cider Brands and Devon Commercial Property.
Devon Cider was founded in 1999 and four years ago moved to larger premises in Tiverton, which it bought from Inbev.
Cllr Alan Griffiths, who represents Westexe said: “I am hoping they are able to keep the jobs in my ward, but it is an uncertain time. This would be the worst possible time to lose any jobs, just before Christmas and at the bottoming out point of a recession.”
For more details on this, see next weeks Mid Devon Gazette.
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