Gareth Rusling and Christopher White of The P&A Partnership, Sheffield, have been appointed joint administrators of Scarborough-based Woodhead Bakery.
The family business, founded 74 years ago, has a factory in Scarborough supplying its 30 shops in the North East as well as Wm Morrison Supermarkets Plc, the national supermarket chain.
Mr White confirmed that 30 of the company’s 310 employees were made redundant yesterday (March 29). He said that the administrators will carry on trading the business, “We believe that by continuing to trade we have the best chance of finding a buyer and we have retained as many employees as we possibly can.
“Unfortunately, Woodhead Bakery has been hit by inflation and the impact of rising global wheat prices, in addition to harsh economic conditions on the High Street.”
The P&A Partnership is a leading specialist business turnaround and insolvency firm with offices across the UK and in London. Their support for businesses includes restructuring, finance brokering, debt collection and selling assets.