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The Finsbury Food Group has announced plans to close one of its pastry making subsidiaries in a move that puts 250 jobs under threat.

The Cardiff-based baked goods manufacturer this morning announced proposals to close its Grain d'Or business, which is based in Brent, London.

Finsbury blamed recent losses despite a "range of initiatives" designed to improve performance, and said business had been "historically loss making."

It is entering a formal consultation period with the 250 staff employed at Grain d'Or.

Grain d'Or provides premium baked goods for the pastry sector.

In a statement to the London Stock Exchange Finsbury Food said: "The company has proposed the closure of Grain D'Or as the business has been historically loss making. In recent years, the company has implemented a range of initiatives to improve the business including strict cost controls and introducing new working practices.

"Despite this, during the 12 months to 1 July 2017, Grain D'Or generated £28.5 million in revenue but produced an overall operating loss."

In a recent trading update, Finsbury Food said total group revenues had grown 0.3% to £314.3m in the year to July 1. On a constant currency basis, revenues decreased 1.1% like for like on the previous year.

The group said it was confident of delivering profits in line with market expectations.