The company is based in Hull and supplies products ranging from burgers and sausages to pastry and dumplings under brands such as Plumtree, Mawbeef, JL and Pin-it.
It had been struggling financially for some time and had sought additional funding.
But a statement issued to the stock exchange read: “The company was informed by its bankers yesterday afternoon that its refinancing proposal has not been accepted. As a consequence, the directors are seeking the appointment of an administrator over the assets of the company.”
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