Peyton & Byrne Bakeries split up in rescue deal

Peyton & Byrne Bakeries (PBB), the retail chain and wholesale bakery co-founded by Great British Menu judge Oliver Peyton, has been split-up in a rescue deal after it entered administration.

PBB, which runs three London bakeries and a Bermondsey wholesale factory, informed staff last week it had hired administrators Leonard Curtis to secure the future of the business.

The company has confirmed that the two arms of the business have now been sold to separate buyers, after the administration was revealed by The Grocer.

The retail business will continue under the Peyton & Byrne brand, following a sale to Modern British Bakeries Limited. The buyer, which was registered as Peytons Limited until last week, has two directors, according to Companies House, including Marie Peyton, who had been business development director at PBB.

The Bermondsey-based wholesale arm has been sold to Druid Street Bakeries, where Marie Peyton is also registered as a director. Druid Street was first incorporated in late September.

“I can confirm that the retail high street shops ‘Peyton & Byrne’ have been bought by Modern British Bakeries Limited and will continue to trade under the Peyton & Byrne brand,” commented a spokeswoman.

“The wholesale side of the business has been purchased by Druid Street Bakeries Limited and will continue supply the hospitality industry.”

Yesterday, staff confirmed all of the high street cafés are still trading, as well as the west London facility that produces artisan bread, cakes and pastries.

The administration comes only two years after the wider group Peyton & Byrne entered administration itself, after losing profitable catering contracts at Kew Gardens and the British Library.

The bakery arm and catering businesses split apart as part of a rescue deal, with food service giant Sodexo purchasing the latter business.

The bakery arm was purchased by the newly formed Peyton & Byrne Bakeries company, led by the Peyton family.

During the restructuring, renowned restauranteur Oliver Peyton is understood to have remained at the spun-off catering business he co-founded in 2005, along with 260 staff.