Almost 200 jobs safeguarded in £1.5m rescue package
ALMOST 200 jobs have been safeguarded at a North East food company thanks to a £1.5m rescue package.
Northumberland Foods, the biggest employer in the coastal town of Amble, has been given secured loans to help it stave off the threat of closure and avoid the consequent impact on the local economy.
Northumberland County Council and regional development agency One NorthEast have each put in £250,000 with almost £1m being loaned by the Royal Bank of Scotland.
The bail-out is aimed at tiding the company over the traditionally slower summer months and allowing it to become a profitable venture by the end of the year.
Northumberland Food, which employs 190 people, acquired the assets of the former Cheviot Foods in Amble from the administrator and began operations in January.
The county council also helped out during that process, providing financial support to allow the administrator to keep the plant operating while the sale went through.
