UK baker Tindale & Stanton has been purchased by Hobson Foods. Tindale & Stanton went into administration six weeks ago after struggling with both difficult trading conditions and passing on increased costs.
However, joint administrators Ian Stokoe and Ian Green of PricewaterhouseCoopers have completed a sale of the business to Hobson Foods.
Hobson Foods is a newly-created company in which former Tindale & Stanton MD Peter Frankland has a stake. Frankland will serve as director of Hobson Foods.
Hobson Foods will continue to trade under the Tindale & Stanton brand, a spokesperson for the group told just-food.
The company will also continue to operate production facilities in Burnopfield, County Durham, and Gateshead.
However, the company’s distribution depots will be closed, resulting in the loss of almost 140 jobs.
Following the closures, Hobson will have approximately 160 employees.
“The sale of the business to Hobson Foods will safeguard the interests of customers and staff,” a spokesperson for the group commented. “We believe that this is an excellent opportunity to return the company to profitability.”