London-based cake maker Butterscotch Bakery and parent company Soul Food Enterprises have been bought out of administration by undisclosed parties.
Soul Food, the operator of two London restaurants, and Butterscotch Bakery called in administrators at ReSolve Advisory on 8 November.
The businesses suffered what has become a common fate among restaurant chains, as higher overheads and plunging sales led to mounting losses in the UK casual dining sector.
Following a marketing campaign led by ReSolve administrators Simon Jagger and Ben Woodthorpe, one of Soul Food’s restaurants – the Stax Diner in Soho – and the Butterscotch business were sold, saving a total of 32 jobs.
ReSolve told The Grocer it was unable to sell the remaining restaurant, Harlem Soul in Hoxton, with the business ceasing to trade earlier this month due to financial constraints.
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