Azets advises Lancashire bakery chain as it nears deal to reopen seven shops

Azets, the UK top ten accounting and advisory firm, alongside Brabners Solicitors, has been advising the fourth-generation family bakery, Oddie’s, as it nears a deal to save seven of its shops.

The Lancashire-based family business was forced to close its 13 sites in the region after a sale of the firm fell through in late 2024. The bakery chain, which had employed over 100 people prior to closure, is now nearing a deal with Leigh-based Waterfields, which has 36 stores across the North-west, and could see seven Oddie’s shops reopen by April 2025.

A spokesperson for the deal commented:

“Oddie’s is working on a handover of seven sites to Waterfields, led by Brabners and Azets. Whilst the process is still ongoing, the deal looks to secure the future of Oddie’s locations at Leeds Road (Nelson), Market Street (Colne), and in Burnley at St James Street, Coal Clough Lane, Padham Road, Brownside Road, and The Mall. We aim to have all stores open by early April, pending the completion of legal agreements, with St James Street in Burnley being the first scheduled to re-open on March 11, 2025.”

Oddie’s, which was established in 1905 by William Henry Oddie, was put up for sale by the family last year. Lara Oddie, Director, said that despite weathering crises such as the Great Depression, two world wars, and more recently the Covid-19 pandemic, a quadrupling of energy costs and falling high street footfall had led the family to the decision to put the chain up for sale.

Tim Mills (pictured), Corporate Finance Partner at Azets said following the bakery chain’s closure last year:

“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.“