Hall’s of Broxburn closure: Proposals to save closure-threatened meat processor were ‘short on detail’
THE owner of Hall’s of Broxburn have said it did not receive enough financial information to accept an offer to save the West Lothian meat processing plant.
Private equity firm Graf Mortgage Corporation claimed it could have prevented the loss of 1,200 permanent jobs as part of one of two bids put forward to buy the iconic factory.
Vion, the plant’s Dutch-based owner, announced on Monday it had rejected both offers and would be starting the phased shutdown of the facility.
A Vion spokesman said not enough clarity had been provided by Graf managing director Steve Green around his company’s offer.
The spokesman said: “Vion was fully prepared to give consideration and significant financial assistance to Graf Mortgage Corporation’s offer but, without the necessary financial information regarding both the turn-around plan for the business and proof of funding to effect this turnaround, it has been impossible to progress their proposal.
“This was a particularly disappointing outcome since the indication that Graf Mortgage Corporation would present a viable and sustainable business plan for the business had undoubtedly raised hopes amongst our employees.”
It is believed an offer was made for an independent accountant to be hired to rule on the viability of Graf’s bid.
Mr Green sent an e-mail to Vion’s board of directors yesterday afternoon challenging the company to reconsider his offer.
About 1,700 workers at Hall’s are expected to lose their jobs under the imminent closure.
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Saturday 18 May 2013
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