SUBSCRIBE

Breaking News on Industrial Baking & Snacks

Trends > Convenience

Bakery specialist Finsbury Food Group to close Grain D’Or

Post a comment
Gill Hyslop

By Gill Hyslop+

29-Aug-2017

Finsbury Food Group has announced it will be closing its London-based pastry business Grain D'Or that has been losing revenue. Pic: ©iStock/ziche77
Finsbury Food Group has announced it will be closing its London-based pastry business Grain D'Or that has been losing revenue. Pic: ©iStock/ziche77

Finsbury Food Group has announced it is closing its London-based Grain D'Or business, which makes speciality breads and pastries for grocery retail and foodservice.

In a statement, the Group said it will enter formal consultations with the company’s 250 employees concerning the closure.

Operating loss

The AIM-listed group also noted Grain D'Or has been historically loss-making, despite a range of initiatives in recent years to improve the business, including strict cost controls and introducing new working practices.

Cardiff-based Finsbury Food reported, during the 12 months to July 1, 2017, Grain D'Or generated £28.5m ($36.9m) in revenue but produced an overall operating loss.

Grain D’Or was founded in 1980 and has two bakeries in the UK capital producing croissants, pastries, American muffins and specialty breads to customers such as Marks & Spencer and Tesco.

In a recent trading update, Finsbury Food said total group revenues had grown 0.3% to £314.3m ($407.3m) in the year to July 1. On a constant currency basis, revenues decreased 1.1% year-on-year.

The Finsbury Food Group

The Group has eight factories each producing its own range of products and employing in excess of 3,000 employees:

  • Lightbody of Hamilton, based in Hamilton: elebration cakes
  • Memory Lane Cakes, based in Cardiff: own label cakes
  • Fletchers Group of Bakers, three factories in Sheffied, Manchester and London: fresh and frozen breads, and morning goods
  • Johnston's Foodservice, based in East Kilbride: bite-style cake products, including caramel shortcake
  • Nicholas & Harris, based in Salisbury: speciality breads and morning goods
  • Campbells Cake Company, based in Twechar near Glasgow: products such as caramel shortbread and tiffin

Post a comment

Comment title *
Your comment *
Your name *
Your email *

We will not publish your email on the site

I agree to Terms and Conditions

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

Key Industry Events

 

Access all events listing

Our events, Shows & Conferences...