Ainsleys close to completed deal
Buyers have been found for the vast majority of Yorkshire-based
bakery business Ainsleys.
A team of restructuring and corporate finance
specialists at Grant Thornton’s Leeds office have brokered deals to
save most of the 285 jobs at the firm.
In the deal Leeds-based Countrystyle Foods has
bought the Ainsleys bakery business and name while 20 of the firm’s
29 leasehold retail outlets have been sold, split evenly between
Cooplands of Scarborough and Cooplands of Doncaster.
In addition the firm’s highly successful
sandwich van business has been sold to A W Food Services
Limited.
Joe McLean, partner at Grant Thornton’s Leeds
office, has been leading the search for a buyer for Ainsleys since
the firm went into administration on 6 November 2009.
He said: “We are really pleased to have found
buyers for the majority of the various businesses within the
Ainsleys portfolio. Negotiations are still ongoing in respect of
the remaining nine stores and we hope to be able to announce a
positive resolution shortly.
“I would like to thank all Ainsleys staff for
their help and support during this difficult time. Their loyalty
and commitment to Ainsleys, shown by their high standard of work
despite uncertainty and terrible weather conditions, has been vital
in securing a buyer.”
He added: “Finally, we would like to wish the
respective owners every possible success in the future.”
Anthony Barrett of Grant Thornton’s
Leeds-based corporate finance team led the transaction with legal
advice from Sally Williamson of DLA Piper’s restructuring team.
Ends
For more information please contact:
Alex Wessendorff, Grant Thornton Press Office, T +44 (0)20 7728
2048, M +44 (0) 7983 990837, E Alex.Wessendorff@gtuk.com