The Durham-based bakery chain and wholesale supplier is one of the UK's biggest bakeries, employing 400 people.
It has a 50,000 sq ft state-of-the-art bakery on Durham's Dragonville Industrial Estate as well as 58 shops in the Northumberland and the north Yorkshire area.
£12M turnover
KPMG’s Northern head of Restructuring and joint administrator Mark Firmin is keeping all 58 of the £12M turnover company's shops open while looking for a buyer.
A KPMG spokeswoman told FoodManufacture.com that it was “business as usual” at Peters.
Family-run Peters Cathedral Bakers – trading as Peters Bakery – blamed the tough retail environment and rising energy and commodity prices for its problems.
Mark Firmin, said: “These factors, along with reduced volumes with its wholesale customers, has led to the failure of this 46 year old family business.”