Northern kosher bakery State Fayre is set for resurrection after being placed into liquidation earlier this month.
The bakery was sold out of insolvency to a former director, Yehuda Fagleman, and his wife Shiri, preserving 25 jobs.
State Fayre had been struggling since Covid, according to liquidator Steven Wiseglass of Inquesta, despite several strong years’ trading pre-pandemic.
Wiseglass explained that pandemic restrictions had a “significant adverse impact” on the company’s finances. In the years that followed, the bakery’s energy costs then nearly tripled, and raw material costs increased and the payroll bill grew as statutory wage rates climbed.
“Collectively, these factors placed sustained pressure on the company’s finances,” Wiseglass said.
“The director concluded that it was no longer sustainable to continue the business and sought our advice. The decision was made to place the company into liquidation.”
Yehuda Fagleman had been one of four directors of State Fayre Ltd. He and Shiri now control the former company’s assets, brands and order book through newco YF & SF Bakery Ltd.
The pair were in a “strong position” to give the bakery a “new lease of life”, he said, with “lots of ideas to expand and re-energise, including new product lines and other ventures”.
The new company, trading under the State Fayre brand, is not liable for debts accrued by State Fayre Ltd.
State Fayre bakery sells bread, fresh pastries and cakes to supermarkets, retailers and hospitality venues across Greater Manchester, Liverpool, Leeds and Glasgow.
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