Jacksons the Bakers Limited, which has its head office and bakery in Clay Cross and a shop in the Shambles area of Chesterfield, called in administrators this month amid challenging trading conditions.
Ryan Holdsworth and Danielle Shore, from Sheffield insolvency and business turnaround specialists Graywoods Leonard Curtis, arranged a ‘pre-pack’ sale with support from the restructuring and insolvency team at law firm Irwin Mitchell.
Danielle said: “This is a great result for the company and for the Derbyshire economy and we are delighted that the Jacksons jobs are safe following a worrying period for the whole workforce.”
A pre-pack deal is a process which sees a company enters administration and its business and assets then immediately sold by the administrator to a buyer who was in place before the administrator was appointed.
The identity of the buyer has yet to be publicly revealed.
Ryan said: “This is a great example of what can happen when business owners recognise the warning signs and take professional advice to protect a good business.”
“We are pleased that such a positive outcome has been reached and wish the new owners every success as they take the business forward.”
The company’s roots date back to the late 19th century but the Jackson family took over in 1944, selling war-rationed bread, and have been a fixture of the local community ever since.
The business established itself as a prominent producer of quality baked goods, supplying wholesalers, schools, cafes, restaurants, small supermarkets and shops in Derbyshire, Nottinghamshire, South Yorkshire and Cheshire as well as providing bespoke cakes for special occasions.
It also has a long history of supporting Chesterfield charities, most notably donating freshly baked goods on a daily basis to the town’s Ashgate Hospice and supporting the charity’s annual Sparkle Walks.
Following decades of significant expansion, the business last changed hands in 2017 and went on to be named Derbyshire’s best at the National Bakery Awards 2020.
Jacksons has yet to reply to a request for further comment.