A family bakery chain that was in business for more than a century before it closed all its stores last month could reopen some of its branches. The business opened its doors in 1905 but had to shutter all its branches following financial struggles.
The company faced closure in January, which resulted in nearly 100 job losses due to challenges since the Covid pandemic and what has been termed an "economic slowdown". However, the firm's managing director Lara Oddie has shared upbeat news that there's hope for the reopening of seven out of 13 outlets.
Speaking to the BBC, Ms Oddie said: "I worked behind the scenes really hard all last year on a deal and literally three weeks before it was meant to happen, the guy pulled out, which left me with very few options and fewer resources.
"But, since the announcements been made more public, other people have come out of the woodwork. So, I am still negotiating with interested parties behind the scenes and I've got everything crossed that maybe seven of my shops would reopen shortly."
Attempts to salvage the bakery via a rescue deal were examined in detail last year but ultimately did not come together. Advisory company Azets and Brabners Solicitors have been advising the firm, reports the Mirror.
The company released a statement last month, saying: "Over recent years and compounded by the Covid-19 pandemic the business has faced significant hardships. Economic slowdown has had a profound impact on the business' ability to operate at levels we were accustomed to.
"The company reacted through a combination of centre shop closures, product range rationalisation, and reducing staffing levels to the bare minimum. The business was beginning to see the shoots of recovery.
"Like all businesses, cost pressures have continued to escalate, not least through the energy crisis which has depleted much of the company's reserves. This has put a heavy strain on the company's finances and ultimately the cost to reinvest and recover."
