Lucy Winterborne and Alistair Wardell of law firm Grant Thornton UK were appointed joint administrators of the Cornish pasty producer.
According to Grant Thornton, Crantock entered insolvency after failed attempts to sell the business in recent weeks.
Despite the best efforts of management, cash has deteriorated rapidly leaving the directors with no choice but to close the business, said Grant Thornton.
Employees made redundant
Regrettably, it has not been possible to continue to trade the business in administration and so 109 employees are being made redundant. Ten employees have been retained to assist with the close down of the business and the sale of stock.
Crantock called staff into its site in Indian Queens, Newquay at 6am yesterday mo…
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