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Jobs secured as Forge Bakehouse rescued from administration
The jobs of more than 40 people have been secured at acclaimed Sheffield business Forge Bakehouse.
The Sheffield office of insolvency and business turnaround specialist Leonard Curtis was appointed administrator of Forge Bakehouse, which has a cafe in Abbeydale as well as further outlets in Kelham Island, Beauchief and at Sheffield Station.
But now the company has been restructured with CPLG Limited at the helm - headed by original Forge Bakehouse owner Craig Guest - with the safeguarding of 41 jobs.
And Craig says that everything is now in place for the company to enjoy a strong 2024.
“It is absolutely correct that we experienced operational difficulties in the past few months caused in part by the cost of living crisis and rising energy costs but we are now confident that we have placed this difficult period behind us,” said Craig.
“We took the decision to enter into administration and restructure only after looking at all the different routes available and listening to the advice of the Leonard Curtis team.
“It was important to us and we’re proud that we always paid our employees and our suppliers and maintained good relationships even during this extremely difficult period for us.
“Our programme of growth is now set firmly in place and we opened new premises in Lodge Moor in November.
“We are looking forward to further expansion in 2024 and to the creation of even more local jobs.
“We thank all of our loyal customers for their continued support and we’re looking forward to serving them for many years to come.”
Leonard Curtis Associate Director of Restructuring and Insolvency Stephen Beverley was appointed administrator along with colleague Ryan Holdsworth.
“This is a great result for the business and for Sheffield, where the Forge Bakehouse brand is extremely well known, and we are particularly pleased that jobs are safe following what could have been a worrying period for the whole workforce,” Stephen said.
Ryan added “I am delighted we’ve been able to reach this conclusion and complete this deal which has secured the bakery, its brand and more than 40 jobs.”
The Joint Administrators worked with MD Law and agents BPI Asset Advisory.
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