Cheshire based frozen food firm Freshpack has gone out of business with the loss of 60 jobs.
The Alsager-based frozen food manufacturer of pastry products and ready meals went into administration last month, however administrators Dunham Dean Advisory failed to find a buyer. They had been liaising with a number of parties, but the low margins in the industry had deterred all potential buyers.
Matt Dunham of Dunham Dean Advisory said: “The convenience food sector is the subject of intense competition, particularly at the value end of the market, and the fall in sterling has forced up costs.
“The margins that Freshpack could achieve were simply not sufficient to make it attractive to a buyer.