A popular online butcher company has fallen into administration, as it was confirmed that up to 75 staff had lost their job.

It was revealed that Ripon firm Farmison & Co had fallen into administration at the end of last week, with administrators now starting on the sale of assets.

FRP took charge of the company last Thursday (April 13), when it ceased trading and most staff lost their jobs.

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Farmison co-founder John Pallagi held talks over the bank holiday with a consortium led by two Yorkshire businessmen about reviving the business.

But no deal has been reached and FRP has now issued a statement clarifying the situation.

A statement from FRP said: “The business recently underwent a fundraising process to secure external investment to support its business plan but did not secure a sufficient level of interest.

“Following a period of significant operational investment, the business has not generated the required level of revenues to sustain its high cost base.

“In recent weeks interest in the business and assets has been explored but a transaction could not be completed, and the directors have therefore placed the company into administration.”

The statement confirmed Farmison had ceased trading, adding: “Regrettably, the majority of its 75 roles were made redundant. A skeleton staff has been retained to support the joint administrators in fulfilling their duties as they move towards an asset sale, notably the brand, goodwill and intellectual property.”