Administrators take the reins at Tindale & Stanton
19 May, 2008
The future of County Durham bakers Tindale & Stanton (T&S) hangs in the balance, as admini-strator PricewaterhouseCoopers (PWC) seeks a buyer for the business.
T&S has continued to run as normal since it was taken into administration last week. It supplies savoury products to the supermarkets plus savouries, breads and confectionery to smaller operators.PWC hopes to sell the business as a going concern. A PWC spokeswoman told British Baker: "We have had some interest in the business, but at this stage it's still early days."We are talking to prospective buyers and may be able to make an announcement early next week depending on how those talks go."Almost 300 workers are employed within Tindale & Stanton's various sites. It has a savoury manufacturing plant at Burnopfield, a breadmaking factory at Gateshead and two van distribution sites, which deliver to north-east England, Cumbria and Yorkshire. It also exports to Spain, Ibiza and Tenerife.In 2005, the company's bakery was destroyed in a fire, causing it to lose 25% of its business overnight. But by 2007, the company had built a new bakery in Gateshead and claimed that it was back up to full strength. Industry commentators say the current economic climate and price of ingredients are likely to cause more companies to suffer this year.One commentator told British Baker: "There has clearly been an increase in the num- ber of companies going into administration."