Sayers and Poundbakery owner S&PB Retail falls into administration

Joint administrators Gareth Harris and James Woodhead of RSM UK Restructuring Advisory LLP, and Richard Oddy of Azets Holdings Limited, all based in Leeds, were appointed. A similarly named firm, Sayers and Poundbakery Limited, is not affected.

The company blamed weaker footfall, changing customer habits and rising costs. Both fascias trade as company-owned shops rather than franchises, so the remaining estate falls directly within the administration. Administrators' proposals are due within eight weeks.