Job fears as meat retailer plunges into administration

Crawshaw, which has stores at Howard Street and Bowbridge Close in Rotherham, and a factory outlet at the Spar on Manvers Way in Manvers, said it did not have “sufficient cash resources” to restructure its business.

The company, which was founded in 1954, said in a statement today (Wednesday) that it had been in discussion with existing and potential investors but could not raise sufficient capital.

The company has more than 50 stores across the Midlands and the North and up to 600 jobs are at risk across the chain.

A spokesman for the company told the Advertiser that all Crawshaw stores remained open.

He said the company was trying to find a buyer so that jobs could be saved.

Trading in the company’s shares on the London Stock Exchange’s junior market, AIM, was suspended this morning.

The company said in a statement: “The company does not have sufficient cash resources to effect the required restructuring of the business.

“In the light of the above and the operational and financial uncertainty which the company now faces, in order to protect both shareholders and creditors, the board has taken the decision to place the company into administration and intends to appoint administrators shortly with the purpose of seeking buyers for the group’s business and assets on a going concern basis.”

Crawshaw said further announcements would be made in due course.