Chief minister says announcement came as a 'complete surprise'
The chief minister says the closure of Ramsey Bakery will have 'significant implications' for the Island's food supply chain.
Alfred Cannan told Manx Radio the company's announcement - that it's closing at the end of April - came as a 'complete surprise'.
Ramsey Bakery says it's facing pressure 'on many fronts' and there is no 'realistic option but to cease trading'.
It adds that raw material costs have 'escalated at an unprecedented rate' and rising energy costs are having a 'significant impact' due to the nature of production.
Mr Cannan says it's something government has to take seriously:
Ramsey Bakery has declined Manx Radio's invitation to comment.
It has, however, shared the following statement on it's Facebook page:
Former MHK accuses chief minister of 'belittling and demeaning Tynwald' over Assisted Dying Bill
Medical Staff Committee claims vote of no confidence led to leadership changes at Manx Care
Electronic payment cards and vouchers among alternatives to MiCard under consideration
Tuesday sailings changed due to Manxman maintenance
47 buildings in the south waiting for protected status assessment since 2013