Flagship Food Group is closing its San Fernando Valley location and laying off 123 employees, according to the state’s Employment Development Department. In a Worker Adjustment and Retraining Notification filed received by the EDD two weeks ago, Flagship said the layoffs at the Chatsworth plant would be effective Nov. 23. Flagship Food Group was formed in 2012 from the food service industry investments of Creo Capital Partners, a Los Angeles private equity firm. Rob Holland, a partner at Creo, is also the chief executive of Flagship. The company sells branded and private label foods, including potatoes, Hispanic meals, organics, sauces and salsas in more than 30,000 grocery, club and convenience stores; sauces, poultry and other foods for restaurants; and coordinates delivery and supply chain services. Last year, the Flagship announced it was opening a new manufacturing and food distribution headquarters in Albuquerque, N.M. that would result in bringing 300 jobs to that city.