Jobs go at Farmright Group dairy firm in Devon
More than 80 people have lost their jobs at a dairy company in Devon, administrators have said.
The Farmright Group, including Quadra Foods, employed 122 people at its head office on Langage Science Park in Plymouth.
Administrators Grant Thornton said a lack of financial investments had caused problems in the company.
The firm produces a number of dairy products including milk in laminated sachets.
Administrator Nigel Morrison said: "This is a big facility with a lot of expensive equipment that needs profit and turnover.
"Unfortunately, the business hasn't reached the level of turnover and profit it really needed to pay its way."
The firm had been unable to attract funding to invest in new technology and to break into new markets in the UK and overseas, a spokesman from the administrators added.
The business is still trading and Grant Thornton said it was employing a skeleton staff while it looked for possible buyers.
The administrators were appointed on Monday.