A total of 41 jobs have been saved after Kirtons Bakery stepped in to buy the business and assets of UK Bakeries in Leicester.
The deal to rescue the business was sealed earlier this month when Kirtons managing director Minaz Dharamshi, who has been involved in turning around other businesses, decided to buy UK Bakeries, which had been in administrative receivership since last November.
Dharamshi told British Baker: "We are extremely pleased to acquire this well-established wholesale bakery. I would like to thank all the stakeholders who have helped secure the future of this bakery. In particular, I would like to commend the employees of the bakery for their immense support over the past difficult months."
Begbies Traynor, the corporate rescue and recovery business, was instructed to deal with the administrative receivership of UK Bakeries and was instrumental in ensuring that it was marketed as a going concern. Director Ravi Sembi said: "Our involvement in previous sales of Harvestime and Ferrari’s Bake-ries meant that we already had a significant database of potential buyers at our disposal."
Around 100 sales information packs were sent out and four offers were made for UK Bakeries. He added: "I am very pleased with the outcome and delighted that the future of the bakery has been secured."