date:Oct 09, 2012
Paramount Foods, Deeside, Wales, was spun off from Dutch foodgroup Vion just last month, but now the private label pizzamanufacturer has spun into bankruptcy and the administrators arelooking for a buyer.
Sarah Bell and David Whitehouse from the Manchester office ofinsolvency firm Duff Phelps, said that the company's collapsewas caused by the cancellation of a contract by supermarket chainMorrisons, which accounted for 40% of its annual sales of 32.5min 2011. Paramount also supplied Sainsbury'