More than 40 jobs saved after Sheffield's Forge Bakehouse is bought out of administration

A spokesman said the company has been restructured with CPLG Limited at the helm, which is led by the original Forge Bakehouse owner Craig Guest.

This action has led to the safeguarding of 47 jobs, the spokesman added.

Mr Guest said the company was now set to enjoy a strong 2024, after CPLG bought the business out of administration.

“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,” he added.

“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.

“We’re proud that we always paid our employees and our suppliers and maintained good relationships with them 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,” said Mr Beverley.

Mr Holdsworth added “I am delighted we’ve been able to reach this conclusion and complete this deal which has saved the bakery, its brand and more than 40 jobs.”

The joint administrators worked with MD Law, agents BPI Asset Advisory and accountants Hebblethwaites. The spokesman told The Yorkshire Post that creditors will be dealt with in order of priority. Many businesses have struggled in recent months due to the cost of living crisis and rising inflation.