Oddie’s Bakery faced significant challenges earlier this year, leading to its closure in January after it failed to secure a crucial rescue deal for its 13 locations. Unfortunately, more than 100 jobs were lost during this process.
However, there is a silver lining on the horizon. Oddie’s is nearing a potential acquisition deal with Waterfields, a family-owned business based in the North West, which boasts 36 shops and is set to celebrate its centennial next year. This collaboration could breathe new life into Oddie’s operations.
Currently, Oddie’s is collaborating with accountancy firm Azets and Brabners Solicitors to facilitate this transition. Yet, they caution that the deal is not finalized.
A spokesperson for the initiative remarked: “Oddie’s is working on a handover of seven sites to Waterfields, led by Brabners and Azets. While the process is still ongoing, the deal looks to secure the future of Oddie’s locations at Leeds Road in Nelson, Market Street in Colne, and in Burnley at St James Street, Coal Clough Lane, Padham Road, Brownside Road, and The Mall.”
They added: “We aim to have all stores open by early April, pending the completion of legal agreements, with St James Street in Burnley being the first scheduled to reopen on 11 March 2025.”
In the aftermath of its closure, Oddie’s enlisted the expertise of BPI Asset Advisory, specialists in asset disposal, to auction off its equipment, vehicles, and machinery. However, no recent updates have been provided regarding this auction, which took place on 4 March.
Founded in 1905 by William Henry Oddie, the bakery was under the stewardship of his relative, Lara Oddie. Unfortunately, the firm fell into financial difficulties due to a myriad of operational challenges, stemming primarily from the effects of the Covid-19 pandemic, rising energy costs, inflation, and a decline in high-street foot traffic.
When the closure was first announced, a spokesperson for Oddie’s expressed gratitude: “We do thank all the loyal Oddie’s customers over the last 120 years and place on record our thanks to staff who have worked for the business, especially for their efforts and continued commitment since the initial consultation announcement.”
