South Wales’ company Best Bakeries, which went into administration on 4 June, has been saved by a management buy-in.

New company Megans Bakery has bought the business, re-opened the factory in Hirwaun and taken back around half of Best Bakeries’ former staff.

Megans has three directors – Best Bakeries’ former bakery manager Steve Fogo and John and Lee McCardle, who run a sandwich filling business.

Megans has agreed an exclusive contract with ICD Wales to supply Ferrari’s shops, and also plans to expand its business with other retailers, including an increased focus on bake-off.

See this week’s British Baker (4 July) for the full story.