Oddie’s was forced to shut down in January after it had initially failed to secure a rescue deal for its 13 sites, with more than 100 jobs lost in the process.
However, the firm is now closing in on a deal with Waterfields, a North West based family-owned firm with 36 shops across the region that will celebrate its 100th birthday next year.
Oddie’s is working with accountancy and firm Azets and Brabners Solicitors, but warned that the deal was not yet completed.
A spokesperson for the deal commented: “Oddie’s is working on a handover of seven sites to Waterfields, led by Brabners and Azets. Whilst the process is still ongoing, the deal looks to secure the future of Oddie’s locations at Leeds Road in Nelson, Market Street in Colne, and in Burnley at St James Street, Coal Clough Lane, Padham Road, Brownside Road and The Mall.
“We aim to have all stores open by early April, pending the completion of legal agreements, with St James Street in Burnley being the first scheduled to re-open on 11 March 2025.”
Following its closure, Oddie’s also enlisted the help of asset disposal specialists BPI Asset Advisory, with the intention of auctioning of its equipment, machinery and vehicles. No update on this process was provided, with the auction held on 4 March.
Founded in 1905 by William Henry Oddie, the bakery had been under the leadership of his relative Lara Oddie. However, the business fell into financial difficulties as a result of mounting operational challenges due to Covid pandemic pressures, rising energy costs, inflation and declining high-street footfall.
Speaking when the closure was announced, a spokesperson for Oddie’s said: “We do thank all the loyal Oddie’s customers over the last 120 years and place on record our thanks to staff who have worked for the business, especially for their efforts and continued commitment since the initial consultation announcement.”
