Mark Firmin and Howard Smith of KPMG, joint administrators of Peters Bakery, announced today that they have sold the business to Coopland & Son (Scarborough) Ltd (trading as Cooplands) in a deal which safeguards a total of 208 jobs.
The sale to Cooplands, a Scarborough based family business which sells savoury and confectionary goods to retail and wholesale customers, includes;
Unfortunately 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.
Mark Firmin, joint administrator and regional head of restructuring at KPMG, said: “We undertook negotiations with several interested parties and this deal represents the best outcome for both the creditors and the employees of the company. 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.”
Notes to editors:
For press enquiries for the administrators please contact
Alison Anderson, PR Manager, KPMG: 0113 254 2980 / firstname.lastname@example.org
For more information about Cooplands visit http://www.cooplands-bakery.co.uk or call 01723 585 222.
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.