Long-Standing Bakery Chain Faces Potential Closure After Buyer Withdrawal

A family-operated bakery chain is in urgent pursuit of a rescue agreement, as failure to secure one could result in the closure of all 13 of its outlets and the elimination of over 100 positions. Oddie’s, founded in 1905 and continuously managed by the same family, operates from its base in Nelson, Lancashire, with additional locations throughout the eastern part of the county, including Burnley and Colne. The company attributed its decision to sell the business to escalating energy expenses and a reduction in customer traffic on high streets. Nevertheless, prospective purchasers withdrew from the acquisition agreement at the final stage. Oddie’s, a fourth-generation family enterprise, was founded by William Henry Oddie. Director Lara Oddie stated: “With an energy crisis quadrupling costs and footfall declining on the high streets, the Oddie family decided it was time to sell.” She added, “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.” The accounting and advisory firm Azets has been providing counsel to Oddie’s. Tim Mills, representing Azets, commented: “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.” He continued, “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.”