The Pink Panther wafer biscuit has become the latest casualty of Brexit.
Rivington Biscuits has gone into administration, axing almost 100 jobs from a workforce of 123.
The snack manufacturer was struggling prior to the EU referendum, but the resulting fall in the value of the pound since June seems to have been the final straw.
The Wigan, Lancashire-based company is owned by Dutch firm Van Delft, which has appointed FRP Advisory to oversee the administration process.
FRP released a statement saying: “Rivington Biscuits experienced particularly challenging trading conditions over the past year, resulting in significant pressure on profit margins and cash flow.
“The problems were compounded by the sharp decline in the value of the pound against the euro. The company was left with no viable alternative other than to seek the protection of administration while a long-term solution can be explored.”
Rivington isn’t the first food manufacaturer to struggle in the wake of the Brexit vote. Marmite-maker Unilever famously butted heads with Tesco in October over wholesale prices, with the manufacturer wanting to increase prices to compensate for the dip in the pound’s value.
It is believed that Van Delft invested around £7m in Rivington’s Wigan factory since buying the company in 2009.
Image: Rivington Biscuits