Northamptonshire bakery firm Oliver Adams has gone bust, official confirms

The store in Hawthorn Road, Kettering, has been closed
The store in Hawthorn Road, Kettering, has been closed

Baking ovens have fired for the last time at all of the Oliver Adams, an official has confirmed.

This means all 100-plus employees have been made redundant and all its outlets have now closed.

Ian Cooke of Northampton insolvency experts BRI, which has been working to keep the company afloat over the past 12 months, has confirmed the efforts “have failed”.

Mr Cooke met more than 100 staff at the firm’s Northampton headquarters at 10am this morning to talk the staff through the redundancy procedure alongside a member of the Jobcentre Plus.

Some of those employees have not been paid for the past five weeks.

A Compulsory Voluntary Agreement (CVA) had been signed on June 1 last year, which aimed to help pay off the company’s £1.7m of debts.

But it has not been successful, meaning today signals the end of the company’s century-old links to the county.

Mr Cooke said: “We were trying to work with the directors and management to provide a softer landing for the company and its employees.

“This couldn’t be achieved.

“As supervisors of the CVA, we have certain obligations.

“When it fails, we have to petition the courts for a compulsory liquidation.

“That remained the intention when I left the office yesterday.

“This morning, the director has instructed another non-local firm of insolvency practitioners to take the required steps to put the company into voluntary liquidation.”

Those who attended the meeting told said director of the company Mark Jarvis was not present.

He and his business partner Martin Deness took over the firm just over two years ago, taking over from Thomas Adams, a direct descendant of the company’s founder.

Mr Jarvis has yet to make an official statement.

There is set to be a separate meeting of creditors – the people who Oliver Adams Limited still owes money to – on April 13.

Staff, meanwhile, will have to claim redundancy from the Government using an online form.