Business / ‘Big blow’ for the Westside as Waas Bakery goes into administration with loss of nine jobs
THE WALLS bakery has ceased trading immediately with the loss of nine jobs after its parent companies went into administration.
The bakery is said to have experienced challenging trading conditions during the Covid-19 lockdowns which, together with ongoing cost pressures and lack of investment capital, resulted in cashflow pressures.
As a result of being unable to sell the business to date, and given the financial position of the companies Walls Bakery Limited and Saltness Ltd, the directors have taken steps to appoint administrators.
Shetland West councillor Liz Peterson said she was “really vexed” to hear the news.
“The Waas bakery has been supplying shops and local businesses for many years, their products will be missed by many,” she said.
“I hope the staff manage to find other employment, and I would encourage any local business person to think about taking on the bakery. I hope someone buys it and carries on with the business.”
Geoff Jacobs and Blair Nimmo of Interpath Advisory have been appointed joint administrators.
Trading as Waas Bakery, Walls Bakery Limited was incorporated in 2003 and operated as a bakery in Shetland, producing from its facilities a range of items including bread loaves, bread rolls, pastries, cakes and pancakes.
The business delivered its products to local cafes, shops, and a well-known supermarket.
Last month the bakery posted on Facebook that it was looking for a staff member for a new Lerwick shop.
Saltness Ltd, incorporated in 2016, owns the property from which the bakery trades.
The bakery operation and property were purchased by the present owner in 2016.
American entrepreneur Bruce Gilardi took on the bakery in 2016 but passed away two years later, with the business staying in his family.
Interpath Advisory chief executive Blair Nimmo said: “Clearly this is disappointing news for this well-known local business, not least for the company’s dedicated employees.
“Our in-house specialist employee team will seek to support staff with the provision of information needed at this time and to claim their statutory entitlements from the redundancy payments office.
“We are also committed to ensuring that the optimum outcome for creditors is achieved.”
Geoff Jacobs, managing director at Interpath Advisory, added: “It is hugely disappointing that Walls Bakery, which has been an important part of the Walls community in Shetland, is no longer able to continue to trade.
“We would advise that any parties who have an interest in the bakery operation or the property contact the joint administrators in early course as there remains an opportunity to acquire this well-established local business.”
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