Hibernia Foods goes into administration

Uncertainty was hanging over the fate of Hibernia Foods Holdings today after the food manufacturer went into administration.

Joint administrative receivers KPMG were appointed to Hibernia Foods Holdings and six subsidiaries.

Hibernia Foods makes bakery products under licence to US food and textiles group Sara Lee, and chilled desserts under licence to Entenmanns.

KPMG were also appointed to Hibernia Foods Plc, the Nasdaq-listed holding company based in Dublin and its Yeagar subsidiary, which employs about 30 staff.

A KPMG spokesman said all the staff would be kept on while the receivers sought a buyer for the business.

He could not put a timescale on the process, but added that the receivers were optimistic.

Joint receiver Allan Graham said: “We are currently trading the business while we seek buyers for the assets.

“However, to continue to do so successfully, we must retain the support of customers, suppliers, creditors, and employees throughout this process and we hope to seek assurances from them on this front during the coming days.”