85 jobs saved as employees buy Newcastle bakery
The employees formed a new company, which they named Star Cottage Bakery. The new firm bought Tindale & Stanton bakery as a going concern on June 22.
Joint administrators John Russell and Andy Wood from The P&A Partnership took over the bakery at the beginning of June. After making 25 staff redundant, they continued to trade the bakery with the remaining 85 staff in a bid to find a buyer.
The remaining 85 employees have now been transferred to the new company.
Star employees
Wood said: “We are pleased to have been able to sell the business as a going concern, particularly as the buyers are former employees. The quick sale of Tindale & Stanton is an endorsement of the rescue process an administration enables.
“We must thank the employees who have supported the administrators throughout the process. Also, the bakery’s key secured creditors, who gave us their backing to keep the business trading.”
Tindale & Stanton made savoury products, such as pies, pasties and sausage rolls, and bread products, cakes and confectionery.
It was founded by Bill Tindale and Ernie Stanton in 1974 who began making pies in a converted basement.
