Artisan bakery and café chain Peyton and Byrne Bakeries has been rescued from administration.
The company appointed Alex Cadwallader and Neil Bennett from Leonard Curtis as administrators on 16 October 2018. However, it emerged this afternoon (26 October) that the business’ three London-based bakeries and Bermondsey wholesale plant would be saved.
A Peyton and Byrne Bakeries spokeswoman confirmed that its Great Portland Street, Greenwich and Covent Garden shops had been bought by Modern British Bakeries Limited and would continue to trade under the Peyton and Byrne brand.
“The wholesale side of the business has been purchased by Druid Street Bakeries Limited and will continue to supply the hospitality industry,” she added.
The Bermondsey plant supplies artisan bread, cakes, pastries and other handmade products, while the cafés sell signature handmade cakes, biscuits and tarts.
The news comes two years after the wider Peyton and Byrne group entered administration following the loss of profitable catering contracts at London’s Kew Gardens and the British Library.
The bakery business was sold to Peyton and Byrne Bakeries, a new company led by the Peyton family, while the catering element was acquired global food service firm Sodexo.