Manchester bakery closes doors, with loss of 18 jobs

By Rod Addy contact

- Last updated on GMT

Wiseglass: 'seeking a buyer for the plant and machinery'
Wiseglass: 'seeking a buyer for the plant and machinery'

Related tags: Commerce

Manchester firm Euro Bakery Ltd has closed after just eight years in business, with the loss of 18 jobs, having been hit by cash flow problems.

The company, which supplied speciality Asian breads to large retail chains and operated from premises on Baring Street –near Manchester’s Piccadilly station – ceased trading earlier this month.

Steven Wiseglass, director and licensed insolvency practitioner at Inquesta, has been appointed as liquidator. He is now aiming to recover money for creditors by selling off plant and machinery.

Trading since 2006

Euro Bakery, which had been trading since 2006, supplied naans, parathas, rotis and other bakery products, including mini-pizza bases, to retailers such as Tesco, Morrisons and Home Bargains.

However, after an initial period of success and expansion, the firm began to encounter severe cash flow problems, according to Inquesta.

It meant the business did not have enough money to pay wages and suppliers, or to buy raw materials, so it was forced to stop trading. As a result, all of its employees have been made redundant.

‘Became untenable’

“Euro Bakery tried to trade through its difficulties but ultimately it became untenable for the business to continue to operate, which has regrettably resulted in 18 redundancies,”​ said Wiseglass.

“I am now seeking a buyer for the plant and machinery in order to recover money for creditors.”

Interested parties are advised to call Wiseglass on 0844 272 8380 or email him at fgrira.jvfrtynff@vadhrfgn.pb.hx​.

 

Related topics: Bakery

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