Loss of Q V Realisations, previously QV Foods and AH Worth, in Holbeach is ‘hammer blow’

The loss of potato packer and processor has been described as a ‘hammer blow’.

The former QV Foods business, now known as QV Realisation, ceased trading on Monday after more than 30 years — with administrators called into the Holbeach site - with the loss of 200 jobs.

Administrators say that a suitable buyer could not be found for the company — known as A H Worth Ltd until Monday — after it suffered ‘significant losses’ in recent years.

Ruth Carver, chief executive of Greater Lincolnshire Local Enterprise Partnership, said: "This is bad news for the business, the workers and their families, and a hammer blow for Holbeach and the wider Lincolnshire economy.

“Lincolnshire is the UK’s Food Valley with a number of large food processing companies, many of which have vacancies and there is support available through DWP for those looking for work."

Holbeach councillor Tracey Carter said the impact of this will be ‘immense’ on local families.

She said: “It's always very sad to hear of a local firm no longer in a position to continue trading.

“The impact felt by those families affected is immense and I hope continued work goes on to help them secure roles in other local sites as soon as possible so financially the workers can be secure again.”

A South Holland District Council spokesman said the authority will work closely with partners in the Department for Work and Pensions (DWP) to support those who have lost their jobs.

Administrators Paul Meadows and Matt Cowlishaw, of Teneo Financial Advisory Limited, say that the company has been hit by volatile potato prices along with increased operating costs that were not fully recovered in its selling prices. They also said that no funded, deliverable offers were received for the business.

The Fosdyke side of the business and the farms are continuning to trade and are profitable.

What do you think? Post a comment below…