The P&A Partnership announce the successful sales of Woodhead Scarborough’s bakery and retail shop portfolio
16 April 2011 By Northern Lights
Administrators today (April 16) announce deals with two separate buyers for different parts of the Scarborough-based Woodhead’s bakery and retail shop businesses – with 280 jobs being transferred to the new owners.
Gareth Rusling and Christopher White of The P&A Partnership, who were appointed as administrators of Woodhead (Scarborough) Limited on 29 March 2011, have sold the Scarborough bakery and 11 shops to Bakery Products Limited, part of Haldane Retail Group, and have sold the businesses of another 18 of its retail shops to Scarborough based bakers, Coopland & Sons, in each case as going concerns. Only one shop, in Redcar, has had to close.
Christopher White of The P&A Partnership, Sheffield, one of the joint administrators, said: “We were pleased with the level of interest generated in the company’s businesses and are proud to have achieved successful sales of the factory and 29 shops as going concerns. Our thanks go to all the employees at Woodheads. It’s a credit to them that they carried on working with the administrators throughout these challenging last few weeks.”
Mr White also praised the Bakers’ Food and Allied Workers Union for their support throughout the administration process and added: “The quick sales of Woodhead’s businesses is an endorsement of the rescue process that administration allows – in particular the ability to maintain production and supplies to a retail chain operating from leasehold premises. Despite the gloom in the retail sector, the sales show that many businesses are seeing opportunities to expand products and markets, saving jobs, and avoiding shop closures, in the process.”
During the acquisitions The P&A Partnership was advised by chartered surveyors Charterfields Ltd of Sheffield, Edward Symmons of Leeds, and the Leeds office of law firm Eversheds LLP.
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.
