Rescue deal urgently needed to save 119-year-old Lancashire bakery business with shops in Burnley and Pendle

Oddie’s (W.H. Oddies Ltd), which has shops in Burnley and Pendle, employs more than 100 people. After new buyers pulled out of a sale at the last minute, the family-owned firm says it is looking to secure a rescue deal or all 13 shops and associated jobs will go.

The family have now employed Azets, the UK top ten accounting and advisory firm, alongside Brabners Solicitors, in a bid to secure a future for the historic firm.

What has forced the sale?

Lara Oddie, director at Oddie’s, said: "Oddie’s is a fourth-generation family business, started in 1905 by William Henry Oddie. Over the decades, it has withstood two world wars and their food scarcity, the Great Depression, the fall of Lancashire's cotton industry, the rise of powerful supermarkets, and even the COVID-19 pandemic, which forced us to adapt our entire operating model.

“But with an energy crisis quadrupling costs and footfall declining on the high streets, the Oddie family decided it was time to sell. Sadly, an eleventh-hour withdrawal by the buyer has left us with no choice but to consider closure. As a family firm, we have always seen ourselves as part of the local community fabric, making this a heartbreaking situation for us, our devoted staff, and the loyal customers in Burnley and Pendle who have cherished our unique products.”

Tim Mills, Corporate Finance Partner at Azets said: “Unfortunately, against the tough business landscape, with the energy crisis and high-street footfall reduction playing large roles, we’re seeing companies head further into financial difficulties as a result of the cost of business crisis. We are exploring sale options of Oddie’s with interested parties with a view to securing a future for the group and saving as much of the business and as many jobs as possible.”