Fri, 25 Nov 2011 | ADMINISTRATION
A buyer is being sought for embattled West Midlands bakery chain, Cooks, as it continues to trade in administration.
Cooks had over 120 bakeries and coffee shops five years ago, and employed 900 people to run them. Numbers have dwindled since then, and eight bakeries were closed and 42 staff made redundant shortly before entering administration, leaving a mere eight stores trading, manned by 62 staff.
Based in Solihull, the bakeries are situated across the Midlands and the South of England, and sell freshly made sandwiches, baguettes and rolls to its customers.
Cameron Gunn, Mark Supperstone and Simon Harris of ReSolve Partners are the administrators.
Cooks' directors attributed the bakery’s failure to the increasing price of food, low wheat yields and low customer spend. “The past year has been one of the most difficult in living memory, with little signs of any significant recovery at present,” a report by the directors said.
A deal with rival Three Cooks in 2006 saw Cooks take over 123 bakeries, by 2008 however, the number of outlets had shrunk to 80.
Its accounts show a loss of almost £594,000 made for the year ending 27 March, 2010, while its turnover had fallen from £13.7 million to £10.7 million for the same period.
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