Administrators close three Peters' outlets

Administrators have closed three of Peters Bakers' retail outlets resulting in 17 redundancies, following its collapse into administration earlier this month.

Global accountancy firm KPMG closed the north-east bakery business' Billingham and Stockton stores and Loaf branded outlet in Pity Me on 23 June. In a statement, KPMG said it had decided to cease trading at the sites "due to poor financial performance" and the three stores "historically being loss-making".

A KPMG spokesperson told British Baker: "We have not made any more store closures or further redundancies since our appointment. Unfortunately, we cannot name any interested parties we are speaking to with regards to a possible sale of the business."

Durham-based Peters Bakery, reported a £12.3m turnover for the year ending 30 April 2011.

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