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.
For sale is a long-established tree surgery and arboricultural services business with an excellent reputation, serving both domestic and commercial sectors across Southern England, including the Home Counties and London.
An opportunity has arisen to acquire a mechanical engineering company specialising in the Water Industry. Benefitting from over 3 decades of trading, this business has built a solid and long standing client base comprised of prominent UK utility comp...
An opportunity has arisen to acquire a reputable IT support and development services provider with a UK-wide client base and a proven record for innovation and resilience in the constantly evolving IT sector. Throughout its 25+ year trading history,...
|
25
|
|
Apr
|
Scaffolding company Hi-Point Access raises funds following Gap acquisition | BUSINESS SALE
Sheffield scaffolding company Hi-Point Access has secured &p...
|
24
|
|
Apr
|
Malaysia's IJM buys a stake in London construction firm JRL | BUSINESS NEWS
IJM Corporation Berhad has bought a 50% stake in Borehamwood...
|
24
|
|
Apr
|
Training group Babington bought by PE-backed Knovia | BUSINESS SALE
Apprenticeship and training provider Babington has been acqu...
|
25
|
|
Apr
|
Scaffolding company Hi-Point Access raises funds following Gap acquisition | BUSINESS SALE
Sheffield scaffolding company Hi-Point Access has secured &p...
|
24
|
|
Apr
|
Red Blaze chooses employee ownership | BUSINESS SALE
Twigworth, Gloucester-based events business Red Blaze has tr...
|
24
|
|
Apr
|
Training group Babington bought by PE-backed Knovia | BUSINESS SALE
Apprenticeship and training provider Babington has been acqu...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.