A Lincolnshire potato packer and processor has gone into administration, with the firm blaming 'significant losses' over the past couple of years.
Administrators have been appointed to Holbeach-based QV Realisations Ltd, part of the AH Worth Group, with around 200 jobs at risk.
Paul Meadows, a joint administrator at Teneo Financial Advisory, said the business had ceased trading earlier this week after no buyer was found.
Founded in 1895, AH Worth packs and processes potatoes and numerous vegetables.
Mr Meadows said the firm had been affected by both volatile potato prices and increased operating costs.
"Regrettably, the closure of the company has led to 200 redundancies, with a skeleton team retained to support the administrators in the wind down of operations," he explained.
"Teneo's specialist employee advisory team will work closely with the government's Redundancy Payments Service, Job Centre Plus and any local employers who are advertising vacancies in order to provide support to all those made redundant."
Duncan Worth, AH Worth Group's chief executive, told the BBC that it was a 'very sad day' for the business.
"This is not a decision that we have taken lightly and one we only took after exploring all other possible options," he said.
Despite the news, the firm said its other operations in Fosdyke, as well as all its farm businesses, will continue to trade as normal.
