MORE than 1,400 jobs have been saved in a deal rescuing the company which owns Sayers The Bakers and Poundbakery.

However, an unspecified number of redundancies have been made and 11 stores have been earmarked for closure.

Sarah O’Toole and Jason Bell of Grant Thornton were appointed joint administrators to Sayers The Bakers Ltd yesterday (December 18).

Operating since 1912 across the North of England, the £50 million turnover business employed over 1,500 people across 167 Sayers, Poundbakery and Poundcafe stores and in its manufacturing and distribution centres in Bolton.

The business assets have been acquired by Karen Wood, who has formed a new company called Sayers and Poundbakery Ltd, which will be run by the former management team led by Mark James and David Silvester.

The new company will take on the bakery and distribution centre in Bolton and the majority of the bakers shops throughout the Northern England, North Wales, Yorkshire and the Midlands including the transfer of approximately 1,400 employees.

Most of the shops throughout the UK will continue to operate as previously, Grant Thornton said.

Ms O’Toole, advisory partner at Grant Thornton in Manchester, said: “We are delighted to have concluded the sale which preserves a significant number of jobs at this long established business.

"Unfortunately, a number of redundancies have been made across 11 closed stores at a particularly difficult time of year and we are doing everything we can to support these employees.”

The management team at Sayers and Poundbakery Ltd, added: “We’d like to wholeheartedly thank the loyal staff, suppliers and customers for their continued support, as we enter into the next stage of this historic brand’s future.”

The shops will continue to be branded as Sayers the Bakers and Poundbakery and are committed to continue to provide excellent quality and value for money to their loyal customers.

Both Sayers and Poundbakery shops specialise in food-to-go and include their iconic range of savoury pastries still made to recipes that have being passed on through generations of Sayers bakers.