Grant Thornton rescues Yokshire bakers
Ainsleys sold on by administrators
Ainsleys sold on by administrators
Administrators have sold off most of stricken Yorkshire-based bakers
Ainsleys.
Grant Thornton’s restructuring and insolvency specialists brokered a deal to
sell the bakery business to Countrystyle Foods while 20 of its 29 leasehold
retail outlets have been sold between Cooplands of Scarborough and Cooplands of
Doncaster.
The deal will protect most of the 285 jobs at the business.
“We are really pleased to have found buyers for the majority of the various
businesses within the Ainsleys portfolio. Negotiations are still ongoing in
respect of the remaining nine stores and we hope to be able to announce a
positive resolution shortly,” said administrator Joe McLean.
“I would like to thank all Ainsleys staff for their help and support during
this difficult time. Their loyalty and commitment to Ainsleys, shown by their
high standard of work despite uncertainty and terrible weather conditions, has
been vital in securing a buyer.”
Anthony Barrett of Grant Thornton’s Leeds-based corporate finance team led
the transaction with legal advice from Sally Williamson of DLA Piper’s
restructuring team.
The numbers you crunch tell a story. Your expertis...
14yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleBody Shop, Ted Baker, Farfetch, MatchesFashion and Wilko among latest retailer insolvencies. Number of businesses in trouble are the highest in five y...
View articleInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View article