A Black Country food company has gone into liquidation with the loss of 39 jobs.
Dudley-based meat wholesaler Clintons (Quality Foods) Ltd is to be dissolved after a meeting of creditors earlier this month.
Mark Orton and Richard Philpott of KPMG Restructuring in Birmingham have been appointed as liquidators of the family business, which had been trading since the 1950s. The company was said to have fallen victim to a downturn in business caused by the recession and reduced profit margin as a result of rising costs of meat and fuel.
The company, which employed 39 staff, ceased trading shortly before the meeting of creditors and all staff have been made redundant.
Mr Orton said: “It is always sad to see a long-established family business become insolvent.
“However, this business was faced with reducing turnover and falling profit margins, an issue facing many businesses across the region.
“Despite taking measures to cut costs and realign the business to the current environment, a bad debt resulting from the failure of one of Clintons’ larger customers, meant that the management team were left facing the difficult trading conditions with the added pressure of an unexpected reduction in working capital.”
The joint liquidators will now start the task of realising the remaining assets and assisting employees to make their claims for statutory entitlements from the Redundancy Payments Office.