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| Version 1 | Version 2 |
|---|---|
| Bakery to shut with 42 job losses | Bakery to shut with 42 job losses |
| (20 minutes later) | |
| A County Antrim bakery business is to close with the loss of 42 jobs. | A County Antrim bakery business is to close with the loss of 42 jobs. |
| The owners of Miller's Bakery which was based at Heron Road in Belfast Harbour Estate said difficult trading conditions left them with no option. | The owners of Miller's Bakery which was based at Heron Road in Belfast Harbour Estate said difficult trading conditions left them with no option. |
| Owner/Managers Anne and Martin Millar said they had tried to find a buyer but were unable to do so within the time their creditors had allowed. | Owner/Managers Anne and Martin Millar said they had tried to find a buyer but were unable to do so within the time their creditors had allowed. |
| They said it was with "much sadness" they had informed their workforce that the bakery will close on Friday. | They said it was with "much sadness" they had informed their workforce that the bakery will close on Friday. |
| They added: "We have fought a lengthy battle to keep the bakery operating but a combination of difficult trading conditions and cash flow left us with no option but to cease trading." | They added: "We have fought a lengthy battle to keep the bakery operating but a combination of difficult trading conditions and cash flow left us with no option but to cease trading." |
| Expansion | |
| The bakery, which was founded in 1997, moved into the purpose-built Heron Road premises in 2008 with the aim of growing the business and increasing employment. | The bakery, which was founded in 1997, moved into the purpose-built Heron Road premises in 2008 with the aim of growing the business and increasing employment. |
| That expansion was financed by a loan from Bank of Ireland with Invest NI offering £240,000 of taxpayer support - though it is not clear how much of that money was paid out. | That expansion was financed by a loan from Bank of Ireland with Invest NI offering £240,000 of taxpayer support - though it is not clear how much of that money was paid out. |
| In October 2009 the company entered a creditors voluntary arrangement (CVA) - an agreement which allows an insolvent business to continue trading and pay off its creditors over a specified period of time. | |
| Miller's was supposed to pay off its creditors over three years, paying out £2000 a month in the first year, £10,000 a month in the second year and £15,000 a month in the third. | |
| However in February this year the accountants who were supervising the CVA told the High Court in Belfast that Miller's had failed to comply with its terms. | |
| Miller's supplied products to many of Northern Ireland's local retail chains. | Miller's supplied products to many of Northern Ireland's local retail chains. |