Poundbakery goes for growth

POUNDBAKERY, the discount bakery brand owned by Bolton-based bakery chain Sayers, has appointed London-based corporate financier Alaris Capital to advise it on funding options.

The chain has enjoyed rapid expansion thanks to a discount offer which sees it selling multiple items such as doughnuts, cakes and sausage rolls for £1.

The business recently opened its 35th profitable shop and the owners said that the firm has generated a lot of interest both from customers and the investment community.

Sayers chairman Sandy Birnie said: “There is a significant opportunity for our retail format Poundbakery and ample capacity in the market to allow it to flourish, our nearest competitor has over 1300 shops.

“STB Holdings, the owners of Poundbakery and Sayers the Baker is continuing its rapid rollout strategy for Poundbakery and has identified a further 50 sites for its highly successful business model.

“We are also continuing our investment behind our heritage brand Sayers,” he added.

Birnie and other members of the Sayers management team bought 158 Sayers and Hampsons stores out of administration in 2008 after former parent group Lyndale was placed into administration.

However, hundreds more jobs were lost as both the former Sayers Bakery in Liverpool and the Peter Hunt bakery in Bolton were closed.