Bodnant Welsh Food Centre (BWFC), established in 2012, showcases Welsh food, including fresh and locally sourced meat and dairy products, and offers the seasonal food and drink from in house specialists to local artisan producers.
The River Conwy-based firm, it has welcomed over a million visitors, and won numerous awards for its bespoke products and services.
Despite this, the business has faced intense financial pressures over a significant period, and despite substantial efforts from both an operational and financial perspective, it has found itself operating in an unsustainable manner. Owners Michael and Caroline McLaren have remained heavily invested over the last six years, but now have no option but to seek a buyer to help secure the future of the business.
BWFC has sought the help of accountants and business advisors from Smith Cooper to ensure the best outcome possible. Over the course of the next month, the company will continue to trade whilst a purchaser is sought through an accelerated sales process.
Owner Michael McLaren commented: “We are devastated, despite our best efforts to be in this position, and are very sad indeed for our loyal staff whose jobs are now under threat. We fervently hope that someone can be found to take over the business and preserve the jobs of our staff, and the concept of exemplary Welsh food in the Conwy Valley.
“We are immensely proud of what our staff and the business have achieved – they have given much pleasure to so many visitors, as well as winning numerous awards. We all take great pride in how much the Bodnant Welsh Food Centre has contributed to the local economy, employing an average of over 50 FTE staff for more than 6 years. It is with deep sadness that we are now unable to keep funding the business, but we will certainly do all that we possibly can to try to find a buyer.”
Dean Nelson, Head of Business Recovery and Insolvency at Smith Cooper, commented: “The shareholders of Bodnant Welsh Food Centre have undoubtedly invested heavily in the business to help cement its future, however, despite their best efforts, we are now faced with a challenging situation to find an alternative purchaser to secure the future of the business and its employees.”