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.