Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Flint-based Creative Foods has announced plans to close. The company which makes ready meals and other products employs 149 staff at its factory on the Aber Park Industrial Esatate. The announcement of the intention to close was made on 31st March 2014 and it was indicated that the factory could be closed by the end of May.
The company noted that the decision had been reached following a review of its food manufacturing section and that it had concluded that the site at Flint may not be viable. A consultation process has started which the company expects to be completed in May.
Updated, 23/05/2014: Parent company the Brakes Group has announced that a deal has been agreed to sell the Creative foods Plant in Flint. The sale to David Wood Baking means that the plant will continue to be operational and the jobs which had been under threat have been saved. As a result, staff will become employees of David Wood Baking. The Brakes Group will now enter consultation with employees regarding TUPE (Transfer of Undertakings (Protection of Employment)).
Updated, 15/07/2014: All 142 of Creative Foods employees have been transferred to David Woods Baking under the terms of the acquistion of the business.
Eurofound (2014), Creative Foods, Merger/Acquisition in United Kingdom, factsheet number 76918, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76918.