Atradius quick to reveal it rescued Irish Pride’s suppliers

Atradius, the trade credit insurer, was quick out of the blocks this week to trumpet that it has paid out "millions" to cover losses incurred by suppliers to Irish Pride, after the bread company went into receivership earlier this summer.

The insurer quoted Michael McCambridge, of the McCambridge bread clan, as saying that his company’s insurance with Atradius protected it from a “substantial financial loss”.

“It would have put significant pressure on us,” said McCambridge.

Irish Pride was this month bought out of receivership by Pat the Baker, the same company to which McCambridge moved its distribution contract in July after the trouble with Irish Pride started.

In the bread world, it seems that much of the dough just moves around in circles.