 United Milk hopes to sell the plant as a going concern |
The National Farmers' Union is holding an emergency meeting in Swindon for members facing bankruptcy. Hundreds of farmers affected by a crisis at the United Milk creamery at Westbury, Wiltshire, will find out how to cope with the prospect of insolvency.
The receivers were called in recently when the company announced it had run out of money.
More than 300 farmers are owed more than �30,000 each for the milk they supplied to the creamery.
Others also risk losing a share of the �12m they invested in the co-operative when it was established in 2001.
The �45m plant uses modern technology to turn milk into butter and milk powder.
About 100 jobs are thought to be at risk if the plant - which has an annual turnover of �100m - closes.
PricewaterhouseCoopers (PwC) has been appointed as administrators and there were hopes the plant could be sold as a going concern.
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