Sale of Peters Bakery saves 208 jobs30 July 2012
208 jobs have been saved after Peters Bakery administrators KPMG successfully sold the UK bakery to Coopland & Son.
The sale to Cooplands, a Scarborough, North Yorkshire-based family-owned business which sells savoury and confectionary goods to retail and wholesale customers, includes 22 of the Peters Bakery stores and the transfer of 129 store-based staff. Cooplands has also taken Peters’ 50,000 sq ft factory and headquarters in Durham where a further 69 staff will transfer.
10 more staff will transfer to Cooplands after the firm bought Peters' retail van business, which sells baked goods to businesses.
However, 34 Peters Bakery stores will immediately cease trading, resulting in 149 redundancies. Four staff in the distribution operation and two at head office have also been made redundant.
“We undertook negotiations with several interested parties and this deal represents the best outcome for both the creditors and the employees of the company," said Mark Firmin, KPMG's regional head of restructuring and joint administrator of Peters.
"It means that as much of the business as possible will continue to trade under the new ownership of Cooplands, safeguarding more than 200 jobs.”
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