Kingdom Bakers enters receivership
Around 135 jobs could be lost as a Scottish bakery firm has entered receivership.
Kingdom Bakers, based in Kirkcaldy, Fife, has suffered "severe cash flow problems" leading to production stopping at its two sites.
RSM Tenon have been appointed receivers for the company that supplied bread, cake and pancake products to supermarket chains including Tesco, Sainsbury's and Morrisons.
Established in 1984 it had a turnover of £8m and two production facilities in Kirkcaldy and Dysart.
Recent attempts by the management to attract fresh investment to the business proved unsuccessful, and now RSM Tenon are seeking a buyer.
Joint receiver Tom MacLennan said: "Kingdom Bakers is a well-known business in the bakery trade, and the receivership presents an excellent opportunity for a competitor or entrepreneur to acquire the assets and goodwill, including extensive production facilities.
"I would urge any interested parties to contact RSM Tenon immediately".
Copyright (c) Press Association Ltd. 2012, All Rights Reserved.
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Thursday 23 February 2012
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