Buyer sought to save Devon food factory jobs

ADMINISTRATORS have been appointed to try to sell a Devon factory and hopefully re-employ some of the 232 employees who have lost their jobs.
The closure of Okehampton frozen desserts firm Polestar was announced last week by owners Privet Capital, who blamed ‘cashflow problems’.
However, administrators FRP Advisory say they hope that the factory can resume production and re-employ some staff under new owners.
Privet Capital said in a statement: “Despite extensive efforts to turn around a business which had been in difficulties under previous ownership, the restructuring since our acquisition of Polestar Foods in November was not sufficient to ultimately solve the company’s cashflow problems."
“Regrettably, therefore, administrators were appointed for Polestar Foods Ltd and Okehampton Desserts late afternoon on 4 February.”