Business / Closing date set for Waas Bakery interest
A CLOSING date for offers for the Waas Bakery has been set for the end of the month after it went into administration.
A spokesperson for the joint administrators said “various notes of interest” have been received.
Offers are being accepted for either all or part of the bakery operation, its assets and the property. The closing date is 5pm on 31 May.
The spokesperson for joint administrators Geoff Jacobs and Blair Nimmo of Interpath Advisory said: “Following the closing date, we shall require time to assess any offers received and determine the appropriate next steps to maximise value for the creditors.”
The two companies which own the business and the property it is located in went into administration at the end of April with the loss of nine jobs.
The bakery is said to have experienced challenging trading conditions during the Covid lockdowns which, together with ongoing cost pressures and lack of investment capital, resulted in cashflow pressures.
The move into administration was described at the time as a “big blow” for Shetland’s Westside.
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