BusinessBusiness RecoveryDeloitte administrators sell Mathiesons Bakeries, saving 340 jobs

Deloitte administrators sell Mathiesons Bakeries, saving 340 jobs

John Reid and Brian Milne, Deloitte administrators for Mathiesons Bakeries, sell the business as a going concern for an undisclosed sum

Deloitte administrators have completed the sale of Scottish bakery Mathiesons
Bakeries to a consortium, saving approximately 340 jobs.

The chain, made up of 22 stores and six cafes went into administration on 2
March.

John Reid and Brian Milne, joint administrators of Mathiesons Bakeries, were
able to seal the deal with the consortium of bakery companies, now called
Mathiesons Foods.

Reid, partner in reorganisation services at Deloitte Edinburgh, said: “The
deal represents the best outcome for the creditors of the company and preserves
the employment of around 340 employees.”

The consortium comprises of James Allan Bakers owned by Mark Bradford and
Murdoch Allan Bakers run by Paul Allan,
Insider
magazine reported.

“The acquisition of Mathiesons means we have the opportunity to create a
significant business, with the potential to grow and become one of Scotland’s
largest independent bakery companies.

“We believe strongly that the merged business is capable of delivering the
economies of scale required to compete effectively in today’s marketplace,” said
Bradford.

Further reading:

Deloitte
administrators in at Jarvis

Deloitte
predicts personal insolvencies to remain at 35,000

Deloitte
confirms Setanta administration

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