Administrators close three Peters Bakery stores

Administrators for the collapsed Peters Bakery chain have announced the closure of three stores.

The North East based business, which operates 58 stores, went into administration earlier this month as it struggled against a tough retail environment and rising commodity and energy prices.

The three stores which have closed are in Billingham, Stockton and Pity Me. The administrators said in statement that all three stores have been historically loss-making. The closures have resulted in 17 redundancies.

Administrators KPMG are continuing to trade the business as they seek a buyer and said that talks with interested parties are ongoing.  

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