Thu, 24 Jun 2010 | BUSINESS SALE
Fords Bakery Ltd has been bought out of administration for an undisclosed amount, safeguarding the positions of 87 employees.
The East Lothian bakery entered administration after suffering from crippling financial problems caused by the recession, increasing costs of raw materials and inefficient production.
The £5m turnover company produces bread, pastries and cakes, and supplies these products to supermarkets, food service businesses and independent bakeries in Scotland.
The KPMG administrators have now sold the beleaguered business to Scullions Wholesale Bakery Limited, a division of the McGee Group.
Administrator Blair Nimmo said he was pleased with the quick sale of the bakery.
“Not only has this saved 87 jobs in Scotland, but the sale also ensures that existing customers will continue to be serviced and that suppliers will have ongoing business.”
For Gordon McGhee, the managing director of the McGhee Group, the acquisition of Fords Bakery “fits with our strategy of continuing to build a strong business model throughout Scotland.”
Established in 1932, the company reports on its website that it sells to 230 direct delivery customers. Its customers include Co-op stores, 3663 and Woodwards.
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