Maple Leaf Bakery has confirmed its closure within the next few months, as a deal with a potential buyer fell through to save its Walsall site, according to the Express and Star.
The bakery manufacturer, which has been based on Raleigh Street since the 1800s, said it was in talks with a buyer last month during a 90-day consulation period to try and preserve the company’s longstanding history at the West Midlands location.
However, a total of 236 employees felt the blow during the Christmas period as the company announced the buyout was not to go ahead, with the bakery due to close between February and March, reported the paper.
The move has come despite the Canada Bread-owned Maple Leaf Bakery announcing a 3% increase in third-quarter profits in 2011.
Paul Clipson, HR director at Maple Leaf Bakery, told British Baker last year that the business would be focusing on its speciality bread brands, such as The New York Bakery Co, for 2012, which helped accumulate more than £80m profits for the third quarter to 30 September 2011, compared to £78.2m in the previous year.