Insolvency experts from Sheffield have saved 85 jobs at a Newcastle bakery.
Joint administrators John Russell and Andy Wood from The P&A Partnership kept the firm, Tindale & Stanton, trading until a consortium of four former managers bought the firm.
Andy Wood, pictured, said: “We are pleased to have been able to sell the business as a going concern, particularly as the buyers are former employees.
“We must thank 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.”
In a separate deal, P&A has sold two bakery shops in Harrogate, formerly owned by Bakery Products to a new company, Howards Bakery, saving 16 jobs.