Huge snack firm with items at M&S and Sainsbury's closes factory with hundreds of jobs at risk after £5m bailout
A TRENDY dessert firm selling products at M&S and Sainsbury's has closed a factory and received a £5million bail-out - leaving hundreds of jobs at risk.
The popular snack company was thrown a lifeline after breaching its loan terms following the shut down of its Kettering factory.
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Documents show that Little Moons defaulted on its loan terms last December, having confirmed the closure of its Kettering site the month before.
Following this, the ice cream ball firm agreed to secure a further £5million funding from its shareholders after resetting its agreements.
Little Moons are ice cream bites wrapped in mochi dough, which is a Japanese rice cake.
They took off about three years ago after going viral on social media.
Sales of Little Moons mini desserts rocketed after the hashtag #littlemoons racked up millions of views on TikTok.
Little Moons's short-lived Kettering factory opened in early 2024 and aimed to be the company's flagship manufacturing hub.
The business then planned to close its two London factories in Park Royal and Wembley.
But the ice cream company's plans have melted - and they have now shut down their new Kettering plant and returned to the sites ar Park Royal and Wembley.
This came after a review which sought to "ensure a stable and profitable future" for the dessert firm.
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The company did not confirm how many staff exaclty would be affected by the closure, but there are reportedly up to 200 jobs at risk, according to the Northamptonshire Telegraph.
New Little Moons accounts show that total sales hit £53million in the year to December 2023 - down from £64million on the previous 18 months.
Total sales across the UK and Europe slumped from £60million to £46million in 2023.
Little Moons CEO Joanna Allen told The Grocer that their company was continuing to grow.
She said that they made the "difficult decision" to close the Kettering branch at the end of 2024.
She said: "Looking forward, the business is on solid footing to continue blazing a trail for frozen snacking."
The CEO added that they will be " investing in marketing in the UK, Germany, France, Australia and beyond in 2025".
A box of Little Moons costs between £3.50 and £5, depending on where you buy them from.
They're available in a variety of flavours including passion fruit and mango, Belgian chocolate, and Madagascan vanilla.
The treats are also gluten free with some flavours also suitable for vegans.
You get six in a box and they have a soft, chewy texture to them, due to the mochi dough on the outside.
They sell their treats at M&S and Sainsbury's but have also been spotted at Asda, Morrisons, Tesco and Waitrose.
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