Lancashire-based firm Taylors the Bakers has been saved from administration for the second time in less than a year, after administrators RSM Tenon sold the firm back to the bakery’s existing management in a pre-pack deal.

The Ashton-under-Lyne firm went into administration on 8 February 2011, with the new company name, Taylors the Bakers 2011 Limited, registered at Companies House on 20 January 2011.

A spokesperson for RSM Tenon said the completion of the deal had secured the future of the business, along with 120 jobs. The wholesale firm makes oven-bottom muffins for several major multiples as well as schools, hospitals and sandwich shops.

In March 2010, the bakery known then as Sunfresh Bakers Ltd went into administration, with the assets and goodwill bought by its directors Stephen and Mark Taylor.

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