Business / Interest already lodged in Westside bakery after administration
THERE has already been some interest in the Waas Bakery after the company ceased trading and went into administration last week.
A spokesperson for joint administrators Geoff Jacobs and Blair Nimmo of Interpath Advisory told Shetland News that they have received various notes of interest.
This ranges from interest in both the bakery business and the property, through to specific assets only.
The two companies which own the business and the property it is located in went into administration with the loss of nine jobs.
The bakery is said to have experienced challenging trading conditions during the Covid lockdowns which, together with ongoing cost pressures and lack of investment capital, resulted in cashflow pressures.
Any parties who had an interest in the bakery operation or the property were encouraged to get in touch “as there remains an opportunity to acquire this well-established local business”.
The decision to go into administration was made partly as a result of the owners being unable to sell the business.
The move into administration was described at the time as a “big blow” for Shetland’s Westside. It also came whilst the business was recruiting for a supervisor for a proposed new shop in Lerwick.
Become a supporter of Shetland News
Shetland News is asking its many readers to consider start paying for their dose of the latest local news delivered straight to their PC, tablet or mobile phone.
Journalism comes at a price and because that price is not being paid in today’s rapidly changing media world, most publishers - national and local - struggle financially despite very healthy audience figures.
Most online publishers have started charging for access to their websites, others have chosen a different route. Shetland News currently has over 600 supporters who are all making small voluntary financial contributions. All funds go towards covering our cost and improving the service further.
Your contribution will ensure Shetland News can: -
- Bring you the headlines as they happen;
- Stay editorially independent;
- Give a voice to the community;
- Grow site traffic further;
- Research and publish more in-depth news, including more Shetland Lives features.
If you appreciate what we do and feel strongly about impartial local journalism, then please become a supporter of Shetland News by either making a single payment or monthly subscription.
Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.
Already a supporter? Sign in to hide this message.
