Closure of Rathbones Bakery, Wakefield

That this House is disturbed by news that Rathbones bakery site in Wakefield looks set to close following a decision by the owners, supermarket chain Morrisons, to cease production; deeply regrets the consequence of this decision on the jobs of 400 loyal staff from across the Wakefield District, with further impacts on the supply chain and on agency workers; notes that Morrisons was taken over by private equity firm Clayton Dubilier and Rice in 2021 and fears that the new owners are asset-stripping the firm and prioritising short-term yields over the long term interests of the business; further notes the company has indicated it could look at keeping open the production of morning goods, but only by operating a de facto policy of fire-and-rehire with the remaining workers kept on with inferior pay, terms and conditions; supports the Bakers, Food and Allied Workers Union in insisting that workers should not pay the price for the destructive business model adopted by private equity concerns; and calls on government both to provide all necessary support to the workers involved and to undertake an urgent investigation into the impact of private equity takeovers and acquisitions on the UK groceries market.