Biscuiteers has been rescued from administration via a pre-pack deal which will save 160 jobs. The business had accrued losses of over £1m on sales of £11.1m for Y/E April 2024 which proved to be a tough trading period, and had initially appointed Interpath Advisory to conduct a funding review.
Will Wright and Chris Pole from Interpath were then appointed as joint administrators and an MBO was orchestrated with the backing of Matt Scaife from Irish private equity firm Causeway Capital as well as Biscuiteers directors Harriet Hastings and Steve Congdon, together with CEO Francesca Pittaway who recently joined the business.
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