The Larbert-based company left customers asking questions, as they found the Falkirk and Grangemouth shops shut this weekend.
Blair Nimmo and Geoff Jacobs of restructuring company KPMG LLP were appointed provisional liquidators of Mathiesons Bakery Limited on 13 February.
Nick Wills, Mathiesons’ managing director, said: “The economic climate in Scotland has been tough on our retail business and we have seen footfall continue to drop in retail outlets due to restrained consumer spending.
“We regret having to take this step, but it was clear this side of the business was no longer viable and no longer part of the core business strategy.
“Our business supplying the supermarkets is growing rapidly and the closure of the retail business will enable us to focus all our resources on serving our supermarket customers.”
All three of the bakery's retail outlets have now closed, in Cow Wynd, Grangemouth and Fort William.
The bakery signed a £2m deal with Asda supermarkets early last year - its first UK-wide listing.
The deal saw Mathiesons supply Asda stores with chilled products south of the border for the first time through a further 289 outlets across England and Wales. It already supplied 56 Scottish Asda stores.