UK-based own label cheesemaker Mona Island Dairy has gone into administration.
A statement on its website today (10 June) read: “The joint aadministrators are currently exploring options of Mona Island Dairy Limited and separately will be in contact with all known creditors in due course.”
Anthony Collier and Phil Reynolds from the specialist business advisory firm FRP have been appointed as administrators for the group.
Commenting on the news, Anthony Collier, FRP administrator and partner said: “Mona Island Dairy has a compelling proposition with its modern, sustainable facilities.
“Unfortunately, it’s not been able to raise the funding needed to continue operating and so sadly 24 employees have been made redundant and we are helping them to access support from the Redundancy Payments Service.
“We are now focused on finding a solution for the business and invite any interested parties to come forward.”
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By GlobalData
Mona Dairy announced it was close to collapse last month. A statement on its website at the time said it had faced a challenging period since its £20m ($25.45m) investment into its headquarter site in Anglesey, Wales in 2021.
“After five years of striving to develop the newest and most sustainable cheese factory in Europe and fighting against many factors outside of our control, Mona Dairy in Anglesey is sad to announce that it has failed to source sufficient short-term funding from its key stakeholders to keep functioning in its current form,” the post read.
“We remain hopeful that we can secure a new outcome in the coming days and Mona Dairy will be able to continue its journey, even if that means it is under new ownership.”
Mona Dairy’s investment in the Anglesey factory, had been supported by a £3m grant from the Industry Wales Business Innovation and Tourism Scheme.
At the time, the money was to be used to convert the 25,000 square-food factory into a production site for Welsh artisanal cheeses and cheddar, Gouda and Edam to retail and foodservice.
Some 100 jobs were expected to be created through the investment.
