More than 350 jobs will be lost after Crawshaw Group shutters 35 stores and a distribution centre, it was revealed this morning, as the butchers announced it has appointed administrators.
Administrators from EY have been hired to sell off the listed firm’s assets over the next few weeks, and a total of 354 workers have been made redundant.
The butcher, which has branches across the midlands and the north of England, suspended its shares and announced it would enter administration last week, saying in a statement: “The company does not have sufficient cash resources to effect the required restructuring of the business.”
The group will continue to trade from 19 stores, with a distribution centre in South Yorkshire, and continue to employ 261 members of staff.
The appointment of the administrators comes as non-executive director Stephen Henderson announced he would step down from the board.
Crawshaw chairman Jim McCarthy said: “The board and I would like to thank Stephen for his support and wise counsel to Crawshaw since his appointment last year. We wish him well in his future endeavours.”
Peel Hunt has also served its 30-day notice terminating its role as nominated advisor and broker to the company.