AVANA CLOSURE: 'Vulture capitalism' to blame - says Newport MP Paul Flynn
Updated 10:43am Thursday 10th April 2014 in News
NEWPORT West MP Paul Flynn yesterday challenged the Prime Minister on what protection the government could give to the hundreds of Avana Bakeries employees now jobless as a result of “vulture capitalism”.
On Monday it was announced the bakery site at Rogerstone would close following a 45-day consultation after it lost a multi-million-pound contract with Marks & Spencer.
Speaking at Prime Minister’s Questions, Mr Flynn said: “2,400 jobs have been destroyed in Leicester, Corby and, last Friday, 650 in Newport, by a firm that specialises in cynically buying up firms, degrading the pay and conditions of staff and then abandoning them.
“What protection is the government planning to give to those blameless hard workers who suffer the scourge of this new vulture capitalism?”
Mr Cameron mentioned the thousands of job secured for Britain in the last week alone from Asda, Vodafone and Birmingham Airport.
Mr Flynn later said: “I just wanted to raise the issue and put a label to it because it’s very much like vultures coming along.”
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