British Baker can confirm that Best Bakeries Ltd/Ferrari’s Fresh Bakeries has gone into administration.
“It went into administration yesterday afternoon (Wednesday 4 June),” said Steve Fogo, bakery manager at Best Bakeries, “and unfortunately all employees have been made redundant.” Administrators Grant Thornton are looking to find a buyer for the company, though plans are in the very early stages.
The news comes less than a week after Best Bakeries Ltd, which supplies Ferrari’s Bakery, suffered a fire at its plant at Hirwaun in the Cynon Valley, the day after around 50 staff had been made redundant.
Three lorries were severely damaged in the fire which started in the early hours of Friday 30 June, whilst there were a number of employees working in the bakery. The incident also happened around the same time the company applied for adminstration.
The fire caused “damage to vehicles and some damage to the bakery itself,” said Fogo. “We lost all of our production from Thursday night.” He explained the cost of the damage coupled with loss of stock and production time is estimated to be over £100,000, though these costs will be covered by insurance. Police are treating the fire as suspicious.