STORY: LEADING LANCASHIRE FAMILY BAKERY SEEKS RESCUE DEAL

Leading Lancashire family bakery seeks rescue deal to avoid closure

Oddie’s (W.H. Oddies Ltd) is looking to secure a rescue deal or risks closing all 13 locations. Azets, the UK top ten accounting and advisory firm, has been advising the fourth-generation family bakery, alongside Brabners Solicitors. In total, the group employs over 100 people across 13 locations in Lancashire. 

Lara Oddie, Director at Oddie’s commented: "Oddie’s is a fourth-generation family business, started in 1905 by William Henry Oddie. Over the decades, it has withstood two world wars and their food scarcity, the Great Depression, the fall of Lancashire's cotton industry, the rise of powerful supermarkets, and even the COVID-19 pandemic, which forced us to adapt our entire operating model. But with an energy crisis quadrupling costs and footfall declining on the high streets, the Oddie family decided it was time to sell. Sadly, an eleventh-hour withdrawal by the buyer has left us with no choice but to consider closure. As a family firm, we have always seen ourselves as part of the local community fabric, making this a heartbreaking situation for us, our devoted staff, and the loyal customers in Burnley and Pendle who have cherished our unique products.”

Tim Mills, Corporate Finance Partner at Azets said: “Unfortunately, against the tough business landscape, with the energy crisis and high-street footfall reduction playing large roles, we’re seeing companies head further into financial difficulties as a result of the cost of business crisis. We are exploring sale options of Oddie’s with interested parties with a view to securing a future for the group and saving as much of the business and as many jobs as possible.”