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Accreditation problems are killing cheese maker Wales
A modern, sustainable cheese factory in Wales, Mona Island Dairy, has ended up in suspension of payments just two years after its start-up due to accreditation problems. As a result, product could not be sold, losses quickly mounted, shareholders withdrew and dairy farmers were not paid.
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This is reported by the company's curator in Anglesey. A group of dairy farmers from England and Wales can probably whistle for the last milk money. This amounts to tens of thousands of pounds per supplier and sometimes more. According to the curator, there is a total debt of more than €43 million, not all of which can be recovered.
Two Dutch investors, who invested more than €9 million in the project, will probably get their money back. They belong to the so-called preferential creditors. However, there is also almost €34 million in debt to a group non-preferred creditors, including dairy farmers, and they will probably not all get their money back. A group of partly Dutch suppliers and partners is also owed money.
The curator says that he is looking into a possible restart or sale of the factory in consultation with the two directors. 35.000 tons of Cheddar and other cheese can be made annually, in an extremely sustainable way, with virtually no CO2 emissions.