Kingdom Bakers in Receivership
Scottish bakery company Kingdom Bakers has gone into receivership. Employing 135 people, the company has encountered severe cash flow problems leading to the cessation of production at its two sites at Kirkcaldy and Dysart. Established in 1984 and with a current turnover of £8 million, Kingdom Bakers supplies bread, cake and pancake products to supermarket chains including Tesco, Sainsbury and Morrisons.
Receiver RSM Tenon is seeking a buy for the business after Kingdom Bakers’ management failed in recent attempts to attract fresh investment into the business. “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,” says joint receiver Tom MacLennan.
